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Southern Water Downgraded to Junk by Moody’s Amid Water Industry Challenges

Key Takeaway: Moody's downgraded Southern Water to junk status , citing financial and operational underperformance, compounding the broader issues facing the UK water sector. Southern Water Ltd’s credit rating was downgraded to junk by Moody’s , with a warning of potential further cuts due to its weak performance history and financial challenges. This downgrade impacts the company’s ability to raise the £4 billion in new debt and £650 million in equity required for its capital plans. The UK water industry is facing heightened scrutiny due to concerns over chronic leaks, sewage spills, and high-interest rates. Southern Water, which supplies over two million people in England, could face severe penalties from the regulator Ofwat , which may limit funds for essential upgrades. Following the downgrade, Southern Water’s 2026 bonds dropped 2.7 pence to around 85 pence on the pound. Despite the rating cut, Southern Water assured customers that services would continue unaffected, hig
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ASML Projects Strong Growth Through 2030 Driven by AI Demand

Key Takeaway: ASML forecasts 8%-14% sales growth through 2030, fueled by strong demand for its advanced EUV chip-making tools amid the AI boom.

ASML, Europe’s largest tech company, announced expectations of steady annual sales growth between 8% and 14% over the next five years, targeting revenue between €44 billion and €60 billion by 2030. The forecast aligns with ASML’s position as a leading supplier of extreme ultraviolet (EUV) lithography tools, essential for manufacturing advanced AI chips.

CEO Christophe Fouquet highlighted that ASML’s EUV technology positions the company well to capitalize on the AI-driven chip demand expected to extend into the next decade. Analysts welcomed the guidance, especially after ASML’s recent third-quarter earnings fell short due to delayed orders from major clients like Intel and Samsung.

ASML’s growth in China may be impacted by export restrictions on advanced EUV and deep ultraviolet (DUV) tools, limiting China’s share of ASML’s total sales to around 20%, down from over 40% in recent quarters. However, the company remains permitted to sell older DUV models in China.

Shares in ASML rose 2.6% in Frankfurt, reflecting investor optimism for sustained growth amid AI market expansion.

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