Finance and Investment
Widespead media reports this morning, based on an article in the Financial Times, are suggesting that a £5 billion bid for Thames Water could see billions of pounds worth of the company’s existing assets sold off.
Thames Water - company's lenders support appointment of Julian Gethin as Chief Restructuring Officer
Thames Water has appointed Julian Gething, Partner & Managing Director at AlixPartners in London, in a newly created role as Chief Restructuring Officer to provide specialist advice as it continues its complex and ongoing balance sheet recapitalisation process.
Fitch Ratings says Ofwat Final Determination for AMP8 will be crucial for de-risking UK water sector
Fitch's UK Water lead analyst Yeshvir Singh, Senior Director at Fitch Ratings explains why Ofwat’s Final Determination (FD) for the AMP8 regulatory period April 2025 to March 2030 marks a key milestone for the assessment of the UK water sector’s regulatory framework.
Thames Water has announced that the company has executed and published a Practice Statement Letter dated 22 November 2024 in connection with implementing the Liquidity Extension Transaction via a restructuring plan under Part 26A of the UK Companies Act 2006.
Southern Water has responded to yesterday’s downgrade by Fitch Ratings which saw Southern Water (Finance) PLC (SWF) senior secured class A debt rating cut to 'BBB-' from 'BBB' and placed on Rating Watch Negative – SWF is Southern Water's financing company.
- Fitch downgrades Southern Water's Senior Secured Rating to BBB-' on Rating Watch Negative
- Moody’s ratings agency - rising UK water sector risk leads to clutch of negative rating actions
- Thames Water secures support of A class creditors for Backstop Agreement on emergency funding
- Southern Water successfully secures £300 million of additional debt financing
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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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