Export Development Canada incurs significant losses after lending as much as a billion Canadian dollars to Thames Water
Export Development Canada (EDC), Canada’s state-backed export credit agency has incurred significant losses after lending as much as a billion Canadian dollars to Thames Water.
Moody’s warns water firms in England and Wales could face £2 billion in penalties over next five years
Moody's Investors Service is warning that Ofwat’s Draft Determinations for the water companies in England and Wales AMP8 Business Plans increases the risk that sector returns may not be enough to attract the equity funding the companies need to support increasing investment.
S&P Global Ratings downgrades Thames Water again - “We do not believe Thames will have a remedy plan to cover liquidity needs for next 12 months before autumn 2024"
S&P Global Ratings has today yet again downgraded Thames Water credit ratings, saying: “In our view, Thames Water's liquidity has deteriorated to a less-than-adequate position as we forecast that the company will not be able to cover its financial needs by 1.1x over the 12 months from the end of June 2024.”
Moody's Ratings places Southern Water on review for credit ratings downgrade
Moody's Ratings has placed the Baa3 backed and underlying senior secured ratings of Southern Water (Finance) I PLC (Southern Water) on review for downgrade following the publication on 11 July of Ofwat's Draft Deternination on the company's AMP8 Business Plan - previously, the outlook was stable.
Fitch Ratings warns some UK water companies will “find it challenging” to maintain existing ratings for AMP8
Fitch Ratings is warning that some UK water companies will “find it challenging” to maintain their existing credit ratings for AMP8 - and those who fall to do so will be subject to a regulatory cash-lock up.
USS warns Thames Water investment “deeply disappointing” and will influence “future approach to investing in economically regulated assets”
The Universities Superannuation Scheme (USS) has described its experience of investing in Thames Water as “deeply disappointing” and is warning that the experience will “influence our future approach to investing both in economically regulated assets and more broadly.”
South West Water and Severn Trent target bond markets to raise finance
In the last two days both South West Water and Severn Trent have issued prospectuses via the London Stock Exchange targetting bond markets to raise finance via their respective financial subsidiaries.
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.
Ofwat denies agreeing £150 million dividend payment by Thames Water
Ofwat has denied agreeing a £150 million dividend payment by Thames Water, according to a report on the BBC Radio 4 Today news programme this morning.
Fitch Ratings - UK water sector expenditure set to more than double in AMP8
The UK water sector's total expenditure (totex) is likely to more than double in the upcoming AMP8 2025-2030 regulatory period, according to Fitch Ratings latest UK Water - Relative Credit Analysis report released this morning.
News Showcase
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South West Water explores new approach to sludge dewatering in UK-first municipal trial
South West Water has hosted the first municipal trial of the Fournier Rotary Press in the UK, assessing its potential to improve sludge dewatering performance and support future biosolids standards. -
Uniwater strengthens its UK presence with acquisition of Hy‑Ram Engineering
Uniwater has acquired Hy-Ram Engineering, a specialist in tooling, products and hire for the water sector, based in Mansfield, England. -
Enpure Ltd and Clean TeQ Water Ltd in new collaboration for Moving Bed Ion Exchange-based nutrient removal
Enpure Ltd and Clean TeQ Water Ltd have announced a collaboration agreement to bring Clean TeQ Water's Moving Bed Ion Exchange-based nutrient removal technologies to water utilities across the UK. -
BactoSense ID cuts wastewater and bathing water bacteria testing from days to minutes
Near-real-time microbial monitoring of wastewater discharge and bathing waters is now possible thanks to the BactoSense ID solution created by Swiss-based bNovate Technologies.
Expert Focus
News Sections
Other Latest News
- Portsmouth Water appoints Clancy to deliver £26.84m critical connection project in next stage of Havant Thicket Reservoir
- United Utilities awards £46.8 million five year AMP8 contract for supply of UV spares and servicing to single supplier
- Mining Remediation Authority - Seaham Garden Village mine water heat network wins national award
- South West Water begins next phase of work in Lyme Regis to reduce storm overflows
- Ofwat awards £15.6 million contract for appointment of Independent Monitor to Thames Water
- Ofwat - Water Innovation Fund launches £8m Cross-Sector Challenge to scale innovation across farming and water sector
Watch
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Southern Water showcases last footage inside Yew Hill Reservoir before filling
Southern Water has released film and images showing what it’s like to walk inside Hampshire’s expanded Yew Hill underground reservoir for the very last time, before it gets filled with water. -
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.
Top Stories
- Portsmouth Water appoints Clancy to deliver £26.84m critical connection project in next stage of Havant Thicket Reservoir
- United Utilities awards £46.8 million five year AMP8 contract for supply of UV spares and servicing to single supplier
- Ofwat awards £15.6 million contract for appointment of Independent Monitor to Thames Water
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