Global investors warn Government over UK infrastructure investment prospects as Thames struggles to find funding in face of £16.5 billion debt
Global investors have warned the Government over the prospects of attracting major infrastructure investment in the UK’s regulated utilities sectors in the light of Thames Water’s ongoing financial crisis, according to a front page report in the Business& Money section of yesterday’s Sunday Times.
Private equity firm FFL Partners sells investment in Ovarro to Indicor LLC
Private equity firm FFL Partners announced that it has agreed to sell its investment in Ovarro, a leader in critical infrastructure technologies, to Indicor, LLC a leading diversified industrial company specializing in mission-critical technologies across various niche markets.
Wessex Water warns Ofwat Draft Determination puts its ability to retain and attract investment at risk
Wessex Water is warning that Ofwat’s Draft Determination (DD) on its AMP8 Business Plan puts its ability to retain and attract investment at risk.
Owners of Northumbrian Water admitted to Main Market of London Stock Exchange
Owner of Northumbrian Water Group CK Infrastructure Holdings Ltd has been admitted to the Main Market of the London Stock Exchange.
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.”
News Showcase
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Sulzer launches global Water Treatment Center of Excellence for integrated water solutions
Sulzer has launched a new global Center of Excellence (CoE) for Water Treatment Solutions - the CoE consolidates Sulzer’s wastewater treatment expertise in a unified and global manner. -
Pumps prove to be smooth operators for Anglian Water
“SAS (Surplus Activated Sludge) is a bit weird and can do odd things,” says Stuart Chatten, Lead Bioresources Technician at Whitlingham Water Recycling Centre (WRC), one of Anglian Water’s principal centres for processing sewage, serving a population of 400,000. -
Owen Mace takes over as Director of BPF Plastic Pipes Group
Owen Mace has taken over as Director of the British Plastics Federation (BPF) Plastic Pipes Group on the retirement of Caroline Ayres. He was previously Standards and Technical Manager for the group. -
Ledbury engineering firm strengthens senior team as demand for water process systems grows
PureTec Separations, the Ledbury-based water treatment engineering firm, has appointed Dan Norman as its new Sales Manager – Water Process Systems, supporting the company’s continued growth in the UK and international markets.
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Other Latest News
- Goverment provides further £6.5 million funding to support repair, maintenance and long-term projects of canals
- Second round of public consultation on Grand Union Canal Transfer starts next week
- Ofwat publishes final Climate Change Principles for water companies
- Uisce Éireann launches procurement for €7bn+ euro Greater Dublin Drainage and Water Supply Project
- Anglian Water set to progress work on flagship strategic pipeline project next week
- Scottish Water set to start work on £6 million project to improve water quality
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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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