Very impressive. Price rises bite faster than expected, raising H126 organic revenue (before Tunnel recognition) by 35% YoY, while
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The consent request from the 10th of November has now been approved, leaving a mere €300m more to draw, which should focus
Read MoreThames Water Super Sr. creditors are asked to consent to another £321m draw under its facility - presumably the
Read MoreOriginally due for today, Thames Water has agreed to defer its appeal to the CMA regarding Ofwat’s determined pricing and
Read MoreNo standing by. Ahead of the referral to the CMA on Oct. 22nd, the creditor group has revamped its proposal to incorporate the fines that the
Read MoreA commitment not to sell Thames Water before 2030, or the success of its turnaround carries a signal, even if cynically one could argue it
Read MoreWe thought this would happen over the summer, but only now have Thames Water issued their ultimatum to the regulator. The current burden of
Read MoreWe understand that the creditor group, now calling itself London & Valley Water, has resubmitted its amended plan as per indications
Read MoreProgress at last. Following the guiding words of Rachel Reeves and the company reiterating that the only credible bid in town - currently - is that of
Read MoreWhile we find nothing peculiar about the intensity of the negotiation between the Treasury, creditors and regulators, we concede that we had
Read MoreThe Utility has drawn its second tranche of the £1.5bn super sr. funding, which on the original math should see it through Q126. The company has worded the
Read MoreEnvironment Secretary Steve Reed has signed the appointment of FTI Consulting to advise the government on contingency plans for Thames Water, if negotiations fail
Read MoreOfwat has agreed to postpone the referral of the price review decision to the CMA until October 22nd. According to the regulator, the three
Read MoreWe previously wrote that the company and creditors are the closely alligned in the negotiations. They are united by a common command of
Read MoreParties are still positioning themselves. The treasury insists that the utility pay its fines and fails to provide assurances beyond
Read MoreThe creditors have filed an alternative, minimalist plan that requires no price rises, but also no fines and less CapEx for the coming five years. Not having
Read MoreWe are wondering. We’ve shown the other day what the narrow path to making money looks like for TW and its investors and it’s clear that
Read MoreWhen we wrote that KKR would walk out, we meant that tactically. TW’s statement this morning reads awfully final, but then
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