Crisis-hit Thames Water has warned its cash remains on track to run dry by the end of May next year due to a lack of new investment, forcing it to prepare a plan for its lenders. The country's biggest water company, which serves almost a quarter of the population, previously said it ...
Thames Water is drowning in debt while its customers frequently swim in effluent, a toxic combination for a company seeking to avoid becoming the greatest failure of privatisation. Thamesadmitted today it is running out of money as well as time, withenough cash to see it through to next Mayun...
Water company financing is fiendishly complex because of the way the suppliers fund themselves through different structures and debt instruments. In October, The Sunday Times reported that a delegation of international investors in British water suppliers had complained to the Treasury that Ofwat had bec...
Rothschild, the investment bank, is running a process to raise around £3bn from the sale of an equity stake in Thames Water, which is grappling with a debt mountain of as much as £19bn. Other investors which have expressed interest in acquiring newly issued shares in the water company...
has attracted much opprobrium for its ownership of Thames Water between 2006 and 2017, when it added billions of pounds in debt and extracted billions more in dividends. The Australian investment bank, famously known as the “millionaires’ factory,” may have been opportunistic in its financial ...
The government has begun drawing up contingency plans for the collapse of Thames Water amid growing doubts in Whitehall about the ability of Britain’s biggest water company to service its £14bn debt-pile. Sky News has learnt that ministers and Ofwat, the industry regulator, have started to...
The simmering crisis at Thames Water erupted last week whenSky News exclusively revealedthat its shareholders had decided not to proceed with a promised £500m equity injection into the company amid an impasse with Ofwat, the industry regulator. ...
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became more popular in the early eighties, one “explanation” for the event became that this day represented the point in the year when retailers begin to make a profit, going from being “in the red” (meaning to be in debt) to “in the black” (meaning to be free of debt)....