Company close to technical default on some of its debt, underlining UK industry’s precarious state
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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. Continue reading…
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