Ofwat rejects Financial Times report customers will pay “three times over” for Thames Tideway Tunnel
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 grants SES Water extension of time-limited consent to maintain single Issuer Credit Rating
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.
Thames Water - Moodys warns “some contagion risk” resulting from holding company default
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.
Thames Water parent company Kemble Water Finance defaults on debt after failure to make interest payment
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 downgrades Thames Water’s parent company Kemble to two steps above default
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.
Financial Times – Ofwat warned over need to ensure all water companies have internal auditors
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.
Telegraph warns “Thames Water faces sink or swim moment as debt crisis deepens”
An article in The Telegraph newspaper is warning that Thames Water is facing a “sink or swim moment as its debt crisis deepens”.
World Economic Forum flags up extreme weather, misinformation and disinformation as top global risks for 2024
The World Economic Forum’s Global Risks Report 2024 says the biggest short-term risk stems from misinformation and disinformation, while in the longer term, climate-related threats dominate the top 10 risks global populations will face.
Moody’s warns UK water sector outlook remains negative
In its January overview of the 2024 Outlook for the UK water sector, Moody’s is warning that the outlook remains negative, reflecting rising social risks.
BlackRock to buy Global Infrastructure Partners in $12.5 billion deal to create world’s second-biggest infrastructure firm
BlackRock, Inc. and Global Infrastructure Partners, a leading independent infrastructure fund manager, have today jointly announced that they have entered into an agreement for BlackRock to acquire will acquire 100% of the business and assets of GIP for a total consideration of $3 billion of cash and approximately 12 million shares of BlackRock common stock worth about $9.5 billion at Thursday’s close.
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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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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. -
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