Thames Water has six weeks to agree survival plan with Ofwat

Comments

• hellothere@sh.itjust.works ⁨7⁩ ⁨months⁩ ago

  Lenders to Thames argue that forcing them to incur losses on their debts would also drive up the cost of borrowing for all UK water companies, and potentially other utilities such as gas and electricity.

  Lol, get fucked.

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  • HumanPenguin@feddit.uk ⁨7⁩ ⁨months⁩ ago

    Basically admitting they lend to companies with bad fiscal policy. Based on expecting UK tax payers to fund the debt.

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• Streetlights@lemmy.world ⁨7⁩ ⁨months⁩ ago

  Where are the geniuses who told us that siphoning money from public infrastructure to benefit foreign pension funds was a good idea?

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  • GreatAlbatross@feddit.uk ⁨7⁩ ⁨months⁩ ago

    One of the things I really hate about the whole situation, is that the pension funds are trotted out as a puppy.
    “But if you default this company, then all these people will lose money on their pensions.”
    Says the fund who bought into a water supply company and then (I assume) said nothing when plans for huge dividends based on loading it up with debt were announced.

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