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Ofwat orders Thames Water to appoint independent monitor, revise business plan, raise equity and introduce new non-executive directors due to credit rating loss and high debt.
UK water regulator Ofwat has ordered Thames Water, the UK's largest water supplier, to appoint an independent monitor, develop a robust operational business plan, execute an equity raise, and introduce new non-executive directors to its board.
These measures are in response to Thames Water losing its investment-grade credit ratings and a £15bn debt pile.
Thames Water must follow these measures until it regains two investment-grade credit ratings.
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Ofwat ordena a Thames Water que nombre un supervisor independiente, revise el plan de negocios, aumente el capital social e introduzca nuevos directores no ejecutivos debido a la pérdida de calificación crediticia y la elevada deuda.