French expertise could be brought in to manage London’s water system as part of a £5bn rescue proposal for struggling Thames Water.
Thames Water’s credibility is vanishing along with its finances.
Standing on a rapidly deteriorating platform is precarious, a situation Thames Water finds itself in, having recently announced it could deplete its cash reserves by the end of December. Just
Thames Water’s credit rating was downgraded further into junk status.
Thames Water faced another credit rating downgrade amid concerns it could run out of funds by December.
Thames Water has cautioned that its available funds will run out by May 2025.
Thames Water has warned that its cash reserves will be depleted by May 2025 unless a refinancing deal is reached with lenders.
Thames Water bonds downgraded to junk status over collapse concerns
Thames Water’s key bond has been downgraded to junk status due to concerns over its ability to avoid collapse.
Thames Water placed under special measures as bills increase by 22%
Thames Water has been placed under special measures by the water regulator Ofwat as the struggling company fights for survival. Britain’s largest water provider, serving 16 million people in London
Thames Water disburses £196 million in dividends while its debts exceed £15 billion.
Thames Water has confirmed it paid dividends worth £195.8 million last year, despite being heavily indebted and unlikely to raise new funds before December.
Thames Water has no value, according to its largest investor.
Thames Water’s largest investor has reduced its valuation of its stake in the company to zero, effectively declaring the utility provider worthless, according to a report by The Telegraph.
Thames Water’s biggest shareholder steps down from board
The primary investor in Thames Water, Omers Infrastructure, has removed its representative from the board as the utility continues to struggle with a significant £18bn debt.
Thames Water plans to charge bills exceeding £50 a month.
Thames Water is proposing to raise its bills by 45% over the next five years to over £50 a month, as it grapples with an £18 billion debt that threatens
Thames Water bills are expected to increase by 56 percent over the coming five years.
Thames Water has proposed to raise its bills by 56 percent over the next five years as part of its updated business strategy, which sources say has been submitted to
Australian investment bank Macquarie Group lent £130m to Thames Water
It has been revealed that the Australian investment bank Macquarie Group is among the lenders to the financially challenged utility company, Thames Water.