The UK water industry has been hit with additional trouble this week as credit rating agency Moody’s has further downgraded water company debt ratings, increasing the difficulty in securing investment.
Moody’s Ratings has either changed the outlook for many of the UK water companies to negative or placed companies on review for downgrade.
Responding to the news, Stuart Ledger, Chief Financial Officer of Southern Water, said:
“The action by Moody’s Ratings reflects the growing challenges and uncertainty faced by all companies operating in the UK water and wastewater sector. Ofwat’s Final Determination on 19 December should help to alleviate much of the uncertainty around the sector and enable us to continue to improve our services for customers, with the support of our shareholders and lenders.”
