Moody's Ratings deems Thames Water's restructuring to be a "distressed exchange"
Moody's Ratings has downgraded Thames Water Utilities Ltd.'s (Thames Water) Probability of Default (PDR) rating to D-PD from Ca-PD - the rating action coincides with the effective date of Thames Water's restructuring plan announced by the company on 21 February 2025.
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).
Ofwat looks to appoint independent Monitor to Thames Water to report back "frequently" on progress
Ofwat has today published a series of commitments that Thames Water will agree to comply with after it lost two investment grade credit ratings; the company breached its licence following the credit rating downgrades by Moody’s on 24 July and S&P on 31 July.
Moody's Ratings downgrades Thames Water's CFR to Ba2, outlook negative
Moody's Ratings has today downgraded to Ba2 from Baa3 the long-term corporate family rating (CFR) of Thames Water Utilities Ltd.
Fitch Ratings downgrades Southern Water and maintains negative outlook
Fitch Ratings has downgraded the financing company of Southern Water Services Ltd senior secured class A rating to 'BBB' from 'BBB+' and is maintaining the Negative Outlook.
Fitch downgrades Thames Water IDR and senior secured debt to 'B' and revises Outlook to Negative
Fitch Ratings has downgraded Thames Water’s holding company Kemble Water Finance Limited's (Kemble) Long-Term Issuer Default Rating (IDR) to 'B' from 'B+' and senior secured debt rating to 'B' from 'B+'. The Outlook on the IDR is Negative.
United Utilities proposes introduction of new climate change measure in long-term incentive plan
United Utilities intends to seek shareholder support at its AGM in July 2022 for the introduction of a new climate change measure in its long-term incentive plan that aligns with its previously announced carbon pledges.
Ofwat acts to protect customers by restricting pay-outs to shareholders if a water company is in financial distress
Water sector regulator Ofwat has today announced that it has modified the licences of 16 of the 17 water companies in England and Wales, who have accepted new ring-fencing provisions.
Moody’s ratings agency downgrades Bristol Water rating
Moody's ratings agency has today downgraded to Baa2 from Baa1 the backed senior secured debt rating of Bristol Water plc - the outlook is negative.
Two-thirds of major UK companies to incorporate climate change risks and opportunities in 2019 annual reporting
Two-thirds (67%) of UK corporates will be disclosing climate-related risks and opportunities in their 2019 annual reporting, according to new figures released by the Carbon Trust.
News Showcase
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Expert speaker line-up and leading exhibitors to feature at next month’s National Civils Show, Floodex, National Drainage Show & Waterways Management in London
Attendees at next month’s National Civils Show, Floodex, National Drainage Show and Waterways Management on 26th and 27th November are set to benefit from an expert speaker line-up and the opportunity to visit a wide range of exhibitors all co-located in one place at Excel, London, one of the UK’s leading international exhibition and convention centres. -
Ovarro smart leak detection builds drought resilience worldwide
Tackling leakage is one of the fastest and most cost-effective ways for utilities to bolster water security, writes Ben Crabtree, Product Line Director, Ovarro, revealing how the potential of smart technologies is being demonstrated around the world. -
South Staffordshire Plc earns prestigious RoSPA global health and safety award
UK-headquartered South Staffordshire Plc, the integrated services group operating within the UK critical infrastructure and essential services markets, has received a prestigious Royal Society for the Prevention of Accidents (RoSPA) Award for global health and safety excellence. -
Balfour Beatty achieves 99.1% Responsible Sourcing on major Thames Estuary infrastructure project
Balfour Beatty, the UK’s largest construction and infrastructure provider, has delivered exceptional environmental results on the Thames Estuary Asset Management 2100 (TEAM2100) framework, one of the nation’s most ambitious flood defence initiatives.
Expert Focus
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Other Latest News
- Government proposes new financial penalties for environmental offences and bolstered powers for EA to hold water companies to account
- Specialist AI tech built by UK government helped to speed up government’s decision to abolish Ofwat
- Water innovation potential mapped at British Water Innovation Summit
- Southern Water awards £9 million AMP8 contract for wastewater networks optimisation services
- Kraken announces first water customers beyond UK, in partnership with Essential Water in Australia
- Ofwat agrees to Thames Water request for further referral of appeal to CMA with open-ended timescale
Watch
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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. -
What's to be done about the UK's failing utilities - is special administration the solution?
What is to be done about the UK’s failing utilities? Listen to Professor Dieter Helm explore the options to tackle the UK’s failing utilities – Thames Water, the Royal Mail and Network Rail in particular.
Top Stories
- Government proposes new financial penalties for environmental offences and bolstered powers for EA to hold water companies to account
- Specialist AI tech built by UK government helped to speed up government’s decision to abolish Ofwat
- Ofwat agrees to Thames Water request for further referral of appeal to CMA with open-ended timescale
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