BRITAIN'S THAMES WATER SAYS CREDITORS BACK $3.8 BLN FUNDING LIFELINE

Britain's Thames Water said on Wednesday that creditors holding more than 75% of its Class A debt had backed a 3 billion pound ($3.82 billion) funding lifeline, giving it breathing space to shore up its finances and avoid nationalisation.

The indebted utility said reaching the acceptance threshold was an important milestone in securing the funds, and a process was ongoing to allow further creditors to participate.

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