"Largest backer of UK water companies shuns sector amid struggles
Euan Healy in London
Published 6 HOURS AGO
Assured Guaranty, the UK water sector’s largest backer, has refused to insure financing efforts by any of the country’s utilities for more than a year, during which the sustainability of the heavily indebted sector has been called into question.
The New York-listed insurer has amassed more than $15bn of exposure to some of the most heavily indebted UK water utilities.
Despite repeated requests by water companies over the past 18 months, Assured Guaranty has refused to insure any of the bonds issued by the industry’s constituents since the summer of 2024, shortly after the parent company of Thames Water first defaulted on a bond, according to people familiar with the matter."
FT.com
Euan Healy in London
Published 6 HOURS AGO
Assured Guaranty, the UK water sector’s largest backer, has refused to insure financing efforts by any of the country’s utilities for more than a year, during which the sustainability of the heavily indebted sector has been called into question.
The New York-listed insurer has amassed more than $15bn of exposure to some of the most heavily indebted UK water utilities.
Despite repeated requests by water companies over the past 18 months, Assured Guaranty has refused to insure any of the bonds issued by the industry’s constituents since the summer of 2024, shortly after the parent company of Thames Water first defaulted on a bond, according to people familiar with the matter."
FT.com
