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.”

A new report released today by non-profits CDP and Planet Tracker reveals how financial institutions are exposed to significant risks posed by depleted and contaminated water supplies -  with US$13.5 billion in assets already stranded and US$2 billion at risk in four key infrastructure sectors due to water issues.

National Grid plc has announced that it has agreed to sell a 60% equity interest in its UK gas transmission and metering business to a consortium of long-term infrastructure investors comprised of Macquarie Asset Management and British Columbia Investment Management Corporation (BCI).