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 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'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.

Fitch Ratings has downgraded Southern Water (Finance) PLC (SWF) senior secured class A debt rating to 'BBB-' from 'BBB' and placed it on Rating Watch Negative (RWN) – SWF is the financing company of Southern Water Services Ltd (SWS).

Moody’s has announced a number of negative rating actions for a clutch of UK water companies, reflecting what the ratings agency describes as rising UK water sector risk and a deterioration in the sector's business risk profile.

Thames Water has announced this morning that it has secured the backing of creditors who hold in excess of 75% of the water company’s Class A Debt – the creditors have entered into the Transaction Support Agreement (TSA).