Reported 11 days ago
Thames Water has gained important backing from creditors to proceed with a £3 billion emergency funding plan aimed at addressing its significant debt issues. Over 75% of its senior Class A debt holders have agreed to the proposal, which includes an initial £1.5 billion at a 9.75% interest rate. While this approval enables Thames Water to target a court hearing on December 17, the company still faces a long road ahead to fix chronic operational problems and a looming cash crisis.
Source: YAHOO