Thames Water Creditors In Talks to Group Up After Kemble Default
- Investors seek to coordinate ahead of potential negotiations
- Operating company notes have lost value as concerns spread
A Thames Water Ltd. van at a works location in London.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Creditors of Thames Water Utilities have started to organize ahead of potential restructuring talks after its parent firm defaulted on its debts.
Lenders and bondholders to its operating companies, a ring-fenced group previously seen as insulated from the parent’s troubles, have begun coordinating ahead of potential debt talks with the firm, said people with knowledge of the matter, who spoke to Bloomberg on the condition of anonymity. Thames Water declined to comment.