Moody's downgraded Thames Water's bonds to 'junk' status due to financial concerns and high debts.

Moody's has downgraded Thames Water's bonds to 'junk' status, further challenging the UK's largest water provider in its efforts to avoid renationalisation. The company faces a funding crisis, with more than £15bn in debt and a "turnaround oversight regime" imposed by regulators. Moody's cited financial concerns like high debts and difficult market conditions as reasons for downgrading the company's credit rating.