Thames Water’s Debt Piles Up as Restructuring Talks Drag On
Thames Water has effectively been in the hands of creditors since previous shareholders walked away last year.
Photographer: Jason Alden/BloombergThames Water reported ballooning debt as creditors press on with talks to thrash out a rescue deal for the beleaguered utility.
Net debt swelled 12% year-on-year to £17.6 billion ($23.3 billion) after the company accessed more of a £1.5 billion emergency loan it got from creditors in March. It shows the balance sheet is worsening while negotiations continue with regulator Ofwat over the terms of a restructuring plan.