Oh, England’s largest water service company is in a bind! Thames Water, still grappling with a mountain of debt, just lost US equity giant KKR as a financial backer. With £22.8 billion in debt and a recent £122.7 million fine over sewage spills, they needed KKR's cash infusion. But alas, KKR has backed out!
Thames Water now must woo other lenders while keeping 16 million UK customers hydrated. Chairman Sir Adrian Montague is trying to keep calm and carry on, but this is not a drill. UK regulators and creditors are getting cozy to navigate this liquid mess. Let's see if they can keep the taps running!