Thames Water - comment

At long last, restructuring talks between select creditors and Thames Water are starting to gather pace. Blackrock, Elliott, Invesco, MetLlife and D.E Shaw have formed a coordination committee to engage with the company regarding restructuring its debt load. The group is part of a larger group of creditors holding £8.5 billion of Thames Water debt and advised by Jefferies and Akin Gump. It seems the restructuring process is moving faster than we at Sarria expected.