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19.08.25 - 19:12
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Thames Water creditor compares UK to Puerto Rico over treatment of lenders (The Guardian)
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Creditors of US territory's water utility were protected during municipal default, suggesting Thames's backers are safe, says Assured Guaranty bossThe largest creditor to struggling water company Thames Water has said it is confident that it will not lose money, joking that the UK was comparable to Puerto Rico, which paid lenders to its water company despite a crippling debt crisis.Dominic Frederico, the boss of US insurer Assured Guaranty, suggested that the UK government would not impose losses on creditors. The company – with an exposure of $2.4bn (£1.8bn) to Thames Water's bonds – was “well protected in terms of the legal structure” from losing money, he told investors on a call on 8 August. Continue reading......
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17.08.25 - 07:12
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How can England possibly be running out of water? (The Guardian)
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While famously rainswept, climate crisis, population growth and profligacy mean the once unthinkable could be possibleDuring the drought of 2022, London came perilously close to running out of water. Water companies and the government prayed desperately for rain as reservoirs ran low and the groundwater was slowly drained off.Contingency plans were drafted to ban businesses from using water; hotel swimming pools would have been drained, ponds allowed to dry up, offices to go uncleaned. If the lack of rainfall had continued for another year, it was possible that taps could have run dry. Continue reading......
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