Southern Water Launches STID Proposal to Waive Certain Ratings Conditions
The water utility company has launched a proposal to waive certain ratings-related conditions for its bond program.
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The water utility company has launched a proposal to waive certain ratings-related conditions for its bond program.
The company has announced the launch of a preliminary STID proposal, providing further details on the process.
The major water company provides an update on its credit ratings, with S&P Global Ratings keeping its BBB- rating on CreditWatch negative.
The water utility company has secured £675 million in new liquidity, adding to its existing funding arrangements.
The major water utility has secured a £655 million equity injection to fund its upcoming investment programme, with the backing of over 72% of its financing creditors.
The finance company's underlying senior secured rating has been affirmed, with no further review for downgrade.
The retailer has announced a capital reorganisation, including an equity raise and holding company debt reduction.
The company has secured £800 million in new liquidity to backstop future bond issuances, providing additional financial flexibility.
The major water utility is raising £900 million in equity to support its investment program, but faces regulatory uncertainty as it requests a referral of the final determination.
Utility company faces credit rating downgrades, impacting financing and operations.