Thames Water Seeks ยฃ2.4 Billion More Funds as Debt Talks Drag On
Thames Water is seeking to raise ยฃ2.4 billion ($3.2 billion) of additional funding from its creditors to stay afloat while it negotiates a long-term solution for its debt burden.
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Thames Water is seeking to raise ยฃ2.4 billion ($3.2 billion) of additional funding from its creditors to stay afloat while it negotiates a long-term solution for its debt burden.
Thames Waterโs senior creditors are preparing to write off more debt and put more money into the utility in a renewed effort to avoid the UK government taking temporary control.
The Conservative minister who launched privatization of England and Walesโs water industry said he never anticipated companies such as Thames Water becoming so heavily indebted, blaming regulatory failures for the current crisis.