Finance and Investment
Moody's Ratings has downgraded Thames Water Utilities Ltd.'s (Thames Water) Probability of Default (PDR) rating to D-PD from Ca-PD - the rating action coincides with the effective date of Thames Water's restructuring plan announced by the company on 21 February 2025.
Welsh Government backing has been given to what will become the largest consented tidal energy project in Europe and taken an £8 million equity stake.
Fitch Ratings has affirmed United Utilities Water Ltd's (UUW) and United Utilities Water Finance PLC's (UUWF) senior unsecured ratings at 'A -'.
Owner of South West Water Pennon Group has formally announced the launch of its fully underwritten rights issue to raise £490 million as part of a comprehensive financing package.
An additional £16 million has been announced by the Welsh Government to tackle issues that threaten Wales’ water quality.
- United Utilities accepts Ofwat Final Determination on £13 billion AMP8 Business Plan for 2025 to 2030
- Pennon Group PLC accepts Ofwat’s Final Determination on £3.2 billion AMP8 Business Plans
- Thames Water initiates more legal moves to keep interim recapitalisation transaction approved by Class A creditors on track
- Moody's downgrades Thames Water and warns Ofwat FD "does not provide attractive risk-return balance for existing or new investors"
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Expert Focus
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Thames Water starts work on £20 million pipe upgrade in Islington February 13, 2024
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