Thames Water Creditors in Talks to Group Up after Kemble Default

Colm Gibson discusses the impact of Kemble Water (parent company of Thames Water) defaulting on £1.4 billion of debt:

“Whilst there are regulatory protections in place which will shield the operating company from most of the impact, it is a further distraction for Thames Water’s management making it harder to steady the ship — this is particularly true if bondholders are able to exercise step-in rights.”

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