Thames Water Granted Court Approval for Financial Restructuring

Thames Water has obtained court approval for a financial restructuring plan, securing the company's operations until 2026 amid its £16 billion debt crisis. The plan comprises a loan of up to £3 billion with a 9.75% interest rate, endorsed by Mr. Justice Leech. Thames Water's CEO, Chris Weston, expressed that this outcome is beneficial for customers and enables ongoing investment in crucial infrastructure. The High Court's ruling prioritized the public interest in upholding vital services, as articulated by Mr. Justice Leech.