Some Thames Water creditors are calling on more investors to financially support the struggling water company. Thames Water, which supplies around 16 million households across London and the South East, secured emergency financing of up to £3billlion in October. Thames Water holds about £12billion of so-called 'Class A' debt and £1billion of 'Class B' debt, which is considered riskier. Thames Water accumulated much of its debt between 2006 to 2017, when it was owned by financial services giant Macquarie. Critics claim the Australian firm - nicknamed the 'Vampire Kangaroo' - underinvested in Thames Water while taking out billions in loans and dividends from the business.

Source: Daily Mail November 04, 2024 15:39 UTC