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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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Canada Aligns with US on Concerns Over Mexico’s Trade Ties with China

Key Takeaway: Canada supports US concerns about Mexico’s trade policies with China, signaling a potential rift in North American economic cooperation.

Canadian Deputy Prime Minister Chrystia Freeland acknowledged US concerns over Mexico’s trade relationship with China as “legitimate” and shared them, though she did not comment on the possibility of a bilateral trade deal between Canada and the US excluding Mexico, as suggested by Ontario Premier Doug Ford.

Freeland noted Canada’s alignment with the US on tariffs, including a 100% tariff on electric vehicles and 25% on steel and aluminum from China, underscoring Canada’s commitment to shared economic interests with the US. In contrast, Mexico imposed tariffs on Chinese steel but has yet to match the broader tariffs set by its North American partners.

Ford stated that Mexico should adopt comparable tariffs on Chinese imports or risk losing its place in North American trade discussions. The United States-Mexico-Canada Agreement (USMCA) is due for a review in 2026, and President-elect Trump has indicated a desire to renegotiate the deal, further intensifying discussions around North American trade dynamics.

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