Tue, 18 Feb 2025

Tue, 18 Feb 2025 Thames Water secures £3bn lifeline after court ruling

The UK's largest water and waste company was set to run out of money by the end of March.

* Thames Water has secured a £3bn rescue loan from the High Court, preventing temporary nationalisation.
* The company's future remains uncertain due to £19bn worth of debt and criticism over performance in recent years.
* Ofwat says that despite the court decision, Thames Water is still "subject to our turnaround oversight regime" and services will continue as normal.
* The loan will give Thames Water breathing space to undergo restructuring and attract new investors.
* A group of creditors opposed to the deal has announced plans to appeal against the court's decision.
* The company's chairman and chief executive have welcomed the ruling, but others, including a Liberal Democrat MP and an environmental charity, have expressed concerns.
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