Thames Water Looks to Access Extra Cash as Rescue Talks Drag On

Thames Water is looking to tap more emergency cash from its creditors as talks over a rescue deal for the ailing UK utility company drag on.

The company is starting a process to unlock the £823 million ($1.1 billion) of funding that creditors previously agreed to provide under certain conditions, according to a filing on Thursday. It includes a £750 million so-called accordion facility that was promised as part of a £3 billion funding package granted by a London court, and £73 million of deferred commitments.