Thames Water says still seeking new funds, to continue work with Ofwat

FILE PHOTO: A drone view shows Mogden sewage treatment works, owned by Thames Water, in west London·Reuters
Reuters

(Reuters) - Britain's struggling utility Thames Water said on Wednesday it was still working with regulator Ofwat and seeking new equity funding after Moody's downgraded its long-term corporate debt to junk.

"Increasing our financial resilience and securing an investible PR24 determination is a critical priority for the business," the company said, adding that it is business as usual in the meantime.

(Reporting by Radhika Anilkumar in Bengaluru; Editing by Arun Koyyur)