"Thames Water's creditors are being too greedy, risking the UK’s infrastructure credibility as they face opposition from junior bondholders over a questionable rescue plan."
"A temporary nationalization of Thames Water may prevent a troubling precedent, as bondholders resist a rescue plan that could see most loans written off."
Thames Water is on the brink of financial collapse, with a group of creditors proposing a last-minute rescue plan involving £5 billion in funding and the write-off of £6.7 billion in debt. However, junior bondholders oppose this plan, believing it undermines the UK’s infrastructure credibility. As the government considers temporary nationalization to rescue the utility, significant public pressure is being placed on the company to improve its sewage management practices, which have resulted in sewage runoff into rivers and seas.
Read at www.theguardian.com
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