The Government, investors, water companies and environmental regulators – Ofwat in particular – all came in for remarkable levels of criticism from Conservative, Labour. Liberal Democrat and cross-bench peers in a House of Lords debate last week.

Tideway Chair Sir Neville Sims has described the delivery model for the Tideway Tunnel supersewer as an “exemplar for securing long term private capital to provide large scale UK infrastructure alongside our approach to achieving significant wider social value.”

Ofwat has approved the acquisition of a 25% stake in Northumbrian Water by American investment firm Kohlberg Kravis Roberts (KKR & Co Inc) which is listed on the New York Stock Exchange.

Southern Water has this morning welcomed an announcement that funds managed by Macquarie Asset Management have agreed to invest an additional £550 million of equity into the Southern Water group.

Fitch Ratings agency has published a new report on Kemble Water Finance Ltd - whose operating company (opco) is Thames Water – Kemble is expected to be the most vulnerable Fitch-rated holding company in the UK water sector.

David Black, Chief Executive of water sector regulator Ofwat, has described Thames Water as a company with “deep-rooted problems of persistent poor performance and too much debt.”

Wessex Water Chairman Sir Francis Yeoh has said current projections suggest that investment will need to increase at least threefold from current levels and “we stand ready to invest further in Wessex Water for a fair return, to help finance the much enlarged future investment programme.”

Shareholders have agreed to provide Thames Water a further £750 million of equity funding in the remainder of the 2020-25 AMP7 investment period, subject to the satisfaction of certain conditions.

Fitch Ratings has downgraded the financing company of Southern Water Services Ltd senior secured class A rating to 'BBB' from 'BBB+' and is maintaining the Negative Outlook.

 S&P Global Ratings has this morning placed its 'BBB' and 'BB+' issue ratings on Thames Water's class A and class B debt on CreditWatch with negative implications, indicating S&P could lower the ratings by one notch in the absence of sufficient clarity on the management transition and timing of additional equity support from shareholders.