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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Thames Water - report says Ofwat created "twisted" incentives for management to “run company into the ground to maximise short term returns & leave it, bloodless, to next set of owners”
A new report is suggesting that Ofwat created "twisted" incentives for management to “run the company into the ground to maximise short term returns and leave it, bloodless, to the next set of owners” and that investors should have spotted three key red flags.
Thames Water's second largest investor writes value of holding down from £955.8m in 2022 to £364.4m in 2023
The Universities Superannuation Scheme Ltd (USSL) the largest private pension fund in the UK and Thames Water’s second largest investor, has written the value of its holding down from £955.8 million in 2022 to £364.4 million in 2023.
Statkraft to acquire major Loch Ness pumped storage hydro project from Intelligent Land Investments Group
Norway-headquartered Statkraft, Europe’s largest renewable power generator, has agreed to acquire the Red John Pumped Storage Hydro Scheme, from Intelligent Land Investments Group (ILI).
News Showcase
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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. -
BactoCloud platform for bNovate’s BactoSense instruments brings new understanding of water quality
bNovate has launched BactoCloud, a secure cloud-based platform that connects and manages its BactoSense instruments, enabling real-time monitoring and optimization of microbial 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. -
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