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Thames Water's Financial Crisis
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Thames Water's parent company faces a potential financial crisis with a looming money shortage by April. Auditors warn of a lack of commitments to refinance a £190 million loan, and the company may breach an interest cover covenant on a separate £200 million loan. Shareholders are expected to inject further equity, but the business remains fragile with high debt gearing. The company's valuation has been written down by £1.5 billion, indicating significant losses for shareholders.
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How might this financial crisis impact the broader water industry and related sectors?
What are the implications of the company's valuation being written down by £1.5 billion?
What measures can Thames Water's parent company take to address the potential financial crisis?
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