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.

August 23, 2024
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