LONDON — Thames Water, Britain's largest water company, said Tuesday it's hunting for fresh funding to keep the business afloat, even as the heavily indebted company warned it would run out of money by the end of May.
“Thames Water is keeping afloat, but its emergency life buoy is deflating as efforts to raise funds from shareholders proves elusive,’’ said Susannah Streeter, head of money and markets at Hargreaves Lansdown.“It can still tap funding of around 1.8 billion pounds, until spring next year, but it’s a reservoir that’s been shrinking. At the same time, its debt pile is an even bigger millstone and risks pulling the business under," Streeter said.
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