Water industry, Moody’s, Business, UK news, Kent, Investment funds, Regulators Business | The Guardian
Company close to technical default on some of its debt, underlining UK industry’s precarious stateBusiness live – latest updatesSouthern Water’s debt has been downgraded to junk status by the credit rating agency Moody’s in a decision that underlines the precarious state of the UK water industry.Moody’s said Southern’s “history of material operational and financial under-performance” could imperil its plan, announced last month, to borrow £4bn from investors. Continue reading…
Company close to technical default on some of its debt, underlining UK industry’s precarious state
Southern Water’s debt has been downgraded to junk status by the credit rating agency Moody’s in a decision that underlines the precarious state of the UK water industry.
Moody’s said Southern’s “history of material operational and financial under-performance” could imperil its plan, announced last month, to borrow £4bn from investors.
