Finance and Investment
S&P Global Ratings has revised its outlook for South East Water (Finance) Ltd.’s debt to negative from stable, as high inflation weights on the company’s credit metrics.
Ofwat has this morning announced that it has closed an enforcement case into Yorkshire Water after the company agreed a structured plan to strengthen its financial resources in the interests of customers.
S&P Global Ratings has lowered its issue ratings on Thames Water Utilities Finance PLC’s debt, owing to operational performance issues, high leverage, a heavy investment plan, and the current high inflationary environment.
Ofwat is warning that the delivery of multi-sector reservoir (MSR) systems cannot be subsidised by water customers, saying that “as a principle, public water supply customers should not subsidise other reservoir users and we expect costs to be fairly shared between users.”
Sir James Bevan, Chief Executive at the Environment Agency, has urged the insurance industry to invest more to tackle the climate emergency, pointing out that “most of that potential investment will come from the private sector, which can marshal much bigger resources than any government.”
- House of Commons Select Committee raises concerns over Water Companies Pension Scheme
- New report warns financial institutions "deeply exposed to stranded assets" caused by global water crisis
- CIRIA appoints Stantec and Rivers Trust to develop guidance for Blue-Green Infrastructure asset management
- Critical national infrastructure - Macquarie consortium takes 60% controlling stake in UK gas network
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Expert Focus
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Thames Water starts work on £20 million pipe upgrade in Islington February 13, 2024
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