In a significant development for the embattled utility company, a creditor of Thames Water has stated that its financial backers, including pension funds, are secure and that the company is unlikely to fail.
The remark, 'Even Puerto Rico paid its bill,' was made to a news outlet and is seen as a sign of confidence despite the company's precarious financial position.
Thames Water has been at the center of a national debate over its future, with concerns mounting over its immense debt pile and its ability to invest in much-needed infrastructure upgrades.
The company's situation has raised fears of a potential government bailout or even nationalization, a prospect that has been a hot topic in recent political discourse.
The comments from the creditor, while not an official statement from the company, provide some reassurance that a catastrophic collapse is not imminent.
The statement suggests that the institutional investors behind Thames Water are committed to finding a solution and are not preparing to walk away.
This will likely provide a temporary reprieve for the company as it continues to work with regulators and its shareholders to address its financial crisis and formulate a plan for long-term sustainability.
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