Thames Water has received a vital Excessive Court docket battle to safe a £3bn rescue mortgage, staving off the prospect of the debt-laden firm coming beneath authorities management.
The UK’s largest water and waste firm was set to expire of money by the top of March and would have probably been positioned into short-term nationalisation to maintain providers operating.
The courtroom resolution on Tuesday has given the provider a monetary lifeline to bear a significant restructure, however the way forward for the corporate stays unsure because it struggles with round £17bn price of debt.
Thames has additionally confronted heavy criticism over its efficiency lately following a collection of sewage discharges and leaks.
