Moody’s ratings agency - rising UK water sector risk leads to clutch of negative rating actions
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 secures support of A class creditors for Backstop Agreement on emergency funding
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).
Southern Water successfully secures £300 million of additional debt financing
Southern Water has successfully secured £300 million of additional debt financing following the completion of a bond issuance yesterday.
Thames Water – rival creditor groups seek agreement on recapitalisation plan
Rival creditor groups who own Thames Water debt are attempting to reach an agreement on a recapitalisation plan which would offer the water company a £1.5 billion lifeline, according to Sky News.
S&P Global Ratings downgrades Southern Water debt “on challenging financing conditions”
S&P Global Ratings has downgraded Southern Water’s debt to BBB- “on challenging financing conditions” - the rating remains on CreditWatch with negative implications, where they were placed on 23rd August 2024.
Financial Times – S&P ratings downgrade sees Thames Water debt slide further into “junk” status
The Financial Times is reporting this morning that S&P has downgraded Thames Water's credit rating – tipping the UK’s largest water and sewerage company debt further into “junk“ status.
International Investment Summit secures £63 billion of private investment and nearly 38,000 UK jobs
Nearly 38,000 UK jobs are set to be created across the UK after a total of £63 billion of investment was announced around yesterday’s International Investment Summit.
Clean energy investment worth billions unlocked ahead of Investment Summit
Thousands of jobs in green industries have been announced as the UK Government welcomes more than £24 billion of private investment for pioneering energy projects ahead of the International Investment Summit on 14th October.
Moody's Ratings warns again over Thames Water troubled financial situation
Moody's Ratings is once again warning over its concerns about Thames Water's troubled financial situation, following its announcement on 26 September that it was downgrading the water company’s credit rating to Caa1 negative – effectively junk bond status.
Southern Water finances under pressure – utility seeks c£4bn funding from investors
Southern Water’s finances are coming under pressure, according to a report by the Financial Times this morning.
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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Watch
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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. -
Working for WSP - what if you could build a career as unique as you? With us, you can
Find out more about the remarkable career opportunities on offer at WSP - scroll down to watch the inspirational video.
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