Thames Water in breach of licence after debt downgrade [Yahoo! Finance]
Moody's Corporation (MCO)
Last moody's corporation earnings: 4/30 07:00 am
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Source: Yahoo! Finance
The company's debt has been downgraded by two notches by ratings agency Moody's, meaning it no longer meets licence conditions imposed by the regulator Ofwat It puts Thames at potential risk of a fine of up to 10pc of annual turnover, which rose to £2.4bn last year, although there are ongoing discussions about remedial action with Ofwat in an attempt to avoid this. The supplier currently only has enough money to operate until May next year, with shareholders refusing to inject more cash. Bosses have previously warned that fines could quickly eat up this headroom, leading to the failure of the company. The watchdog has vowed to improve financial resilience across the troubled water industry after it became hamstrung by tens of billions of pounds of debt. To achieve this, it said water companies must “at all times” maintain two credit ratings that are “investment grade”. Thames no longer meets this criteria because of the downgrade by Moody's. The threat of a further credit r
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MCO
News
- Moody's Acquires Praedicat to Enhance Insurance Solutions [Yahoo! Finance]Yahoo! Finance
- Moody's boosts risk assessment capabilities with Praedicat purchase [Yahoo! Finance]Yahoo! Finance
- Moody's Co. (NYSE: MCO) had its price target raised by analysts at Morgan Stanley from $420.00 to $451.00. They now have an "equal weight" rating on the stock.MarketBeat
- Moody’s Acquires Praedicat, Adding Casualty and Liability Modeling CapabilitiesBusiness Wire
- Thames Water creditors seek peace deal to avoid threat of nationalisation [Yahoo! Finance]Yahoo! Finance
MCO
Earnings
- 7/24/24 - Beat
MCO
Sec Filings
- 8/12/24 - Form 4
- 8/9/24 - Form 4
- 8/9/24 - Form 4
- MCO's page on the SEC website