Thames Water Crisis Intensifies with Holding Company Debt Default

Kemble Water Finance Limited, the holding company behind Thames Water, has defaulted on its debts, signaling potential restructuring or collapse.

Kemble Water Finance Limited missed a deadline for interest payments, leading to a formal notice of default to bondholders.
The default raises concerns over Thames Water's future, serving 15 million customers in London and southeast England.
Shareholders declined a £500m equity injection meant to stabilize finances, deepening the financial crisis.
Lenders, including two Chinese state-owned banks and Dutch bank ING, could play a crucial role in Thames Water's fate, with a possible debt for equity swap.
The holding company's financial struggles could lead to a significant restructuring or collapse of Thames Water.