Moody's Investors Service says it expects Thames Water to get an AMP8 decision from water sector regulator Ofwat which will enable it to secure the future investment it needs from shareholders.
The World Bank is warning that the world is experiencing an annual spending shortfall of between US$131.4 TO $140.8 billion needed to achieve the UN’s Sustainable Development Goal (SDG) targets for universal access to safe water and sanitation.
£11.5 million of government support funding will enable local projects across England to clean up lakes and rivers, protect communities from flooding and plant thousands of trees.
Water sector regulator Ofwat has rejected the suggestion in a recent article in the Financial Times that Thames Water customers will pay “three times over” for the costs of the Thames Tideway Tunnel.
Ofwat has agreed to Sutton and East Surrey Water’s (SES Water) request to extend a time-limited derogation granted by Ofwat on 25 May 2023 to maintain investment grade Issuer Credit Ratings with a single Credit Rating Agency rather than two.
Moodys Investors Service is warning it “cannot fully exclude some contagion risk” resulting from the formal notices of default sent by Thames Water's holding company Kemble Water Finance Limited and its financing subsidiary Thames Water (Kemble) Finance PLC to the holders of their debt instruments, including the £400 million 4.625% senior secured notes due in May 2026.
Kemble Water Finance, parent company of Thames Water, has defaulted on its debt to creditors after failing to make an interest payment which was due on Tuesday according to reports in online media, including Reuters, Financial Times, Bloomberg and City AM.
Fitch Ratings has downgraded Thames Water’s holding company, Kemble Water Finance Ltd long-term Issuer Default Rating (IDR) and senior secured debt rating to 'CC' from 'CCC' – two steps above default.
The Chartered Institute of Internal Auditors (CIIA) has warned Ofwat of the need to ensure that all the water companies have internal auditors, according to a report by the Financial Times at the weekend.
An article in The Telegraph newspaper is warning that Thames Water is facing a “sink or swim moment as its debt crisis deepens”.
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 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 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.
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.