Thames Water rejects Class B creditors proposed restructuring plan
Thames Water (TWUL) has rejected a proposed restructuring plan put forward by its Class B creditors as an alternative approach to the company’s plan - the junior bondholders have accused the Class A senior creditors of attaching “predatory” conditions to a £3 billion emergency loan for a iquidity extension transaction.
Thames Water publishes Liquidity Extension Update
Thames Water has this morning announced that a supplemental expert witness report by Matt Cowlishaw of Teneo Financial Advisory Ltd in relation to the likely outcome for creditors under its proposed restructuring plan has been made available to the plan creditors, prospective buyers, transferees and sub-participants of thet debt.
Thames Water gains High Court approval to proceed to next phase of emergency loan plan
Thames Water has gained High Court approval to proceed to the next phase of its emergency loan plan following the launch of its Liquidity Extension Transaction and a transaction support agreement on 25 October 2024.
Tugdock and Sarens secure funding from Crown Estate for O & M hub to support offshore wind projects
Tugdock and Sarens have successfully secured funding from The Crown Estate through the initial round of its innovative Supply Chain Accelerator. This is match funding for a joint project by Tugdock and Sarens to develop aheavy lift Operations and Maintenance (O&M) hub at ABP’s port of Port Talbot in Wales.
Investor bid for Thames Water could see company assets sold off and remains publicly listed
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.
Restructuring plan - Thames Water publishes latest liquidity extension update
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 responds to further ratings downgrade by Fitch Ratings
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
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).
News Showcase
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Albion Water appoints new Director of Business Development
Albion Water, the first NAV (New Appointment & Variation) to have been established in1999 and now under the ownership of SDS Water Group, has appointed Andy Holland as its new Director of Business Development. -
Webinar to explore moving indirect potable water reuse to full implementation
UK water companies are invited to join an upcoming webinar which will explore how the sector can take indirect potable reuse (IPR) from concept to full-scale operational reality. -
Kohtari CEO says joined-up water intelligence needed to predict, not just react - not more data
James Sumsion, CEO of predictive water intelligence specialists Kohtari, says the water sector needs to take a giant leap forward, so that it can anticipate and act upon water quality issues - rather than merely react. -
IED compliance – using automated sliding floodgates to support secondary containment at water and sewerage company sites
Ray Moulds, Sales Director at Flood Control International, takes a look at how automated sliding floodgates are supporting secondary containment at water and sewerage company sites.
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Other Latest News
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Scottish Water completes £235m investment in two-way connection between drinking water networks
Hear how Scottish Water has completed its £235 million Ayrshire Glasgow Resilience Project - customers across Greater Glasgow, Ayrshire and East Renfrewshire will now benefit from a more secure and resilient water supply. -
United Utilities accelerates investment to reduce spills from storm overflows across Northwest
Hear how United Utilities is accelerating its investment to reduce spills from storm overflows across the Northwest. -
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Top Stories
- Anglian Water tenders £58.8 million AMP8 contract for major infrastructure planning and consents support and advisory services
- Yorkshire Water set to recruit 90+ colleagues to accelerate £8.3 billion AMP8 investment programme infrastructure delivery
- Scottish Water reports second best operational year on record - despite extreme weather
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