Thames Water says it has sufficient funding to continue operating until the end of the year, as it seeks a recapitalisation deal to avert nationalisation. The company’s latest annual results show its financial position remains under pressure: net debt has risen to £18.5bn, up from £16.8bn a year earlier. Creditors are working to secure a rescue arrangement, while Thames Water continues discussions with creditors, regulators and the government on a recapitalisation plan. The company’s statements indicate it is attempting to bridge a near-term funding gap and maintain stability in the period leading up to year-end. The reported figures reflect the scale of its liabilities, with coverage also citing total debts of around £20bn. Overall, the sources describe an ongoing effort to reach agreement with stakeholders, under scrutiny from regulators and policymakers, amid worsening leverage and the prospect of intervention if a restructuring does not progress.
Thames Water says it has enough funding to last until year-end amid debt
Thames Water says it has sufficient funding to continue operating until the end of the year, as it seeks a recapitalisation deal to avert nationalisation. The company’s latest annual results show its...
- Thames Water says it has enough funding to survive until the end of the year.
- The company is seeking a recapitalisation/rescue deal involving creditors, regulators and the UK government.
- Creditors are actively working to secure support to prevent nationalisation.
- Thames Water’s net debt rises to £18.5bn, from £16.8bn a year earlier, based on its annual results.
- Thames Water serves about 16 million customers in London and the south of England.
Creditors are battling to secure a rescue deal for Thames Water
4 hours agoAnnual results show struggling firm’s net debt has risen to £18.5bn, up from £16.8bn a year earlierBusiness live – latest updatesThames Water has said it has sufficient funding to survive until the end of the year, as it scrambles to recapitalise to avoid nationalisation.The UK’s largest water company, which serves 16 million customers in London and the south of England, said it continued to work with creditors, regulators and the government on a recapitalisation plan. Continue reading...
4 hours ago
Григор Димитров среща Нуно Боржеш на АТП 250 в Бостад
Григор Димитров играе срещу португалеца Нуно Боржеш във втори кръг на турнир от сериите АТП 250 в шведския град Бостад....
Gunmen kill Lagos NURTW organising secretary Toba Ajiboye; police launch manhunt
The organising secretary of the Lagos State Council of the National Union of Road Transport Workers (NURTW), Toba Ajiboy...
Mettur Dam water level reported around 75.3–75.5 feet
Reports from The Hindu indicate the water level in Tamil Nadu’s Mettur Dam is in the mid-75-foot range. One update place...