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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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China-linked Hackers Breach US Telecoms, Steal Surveillance Data

Key Takeaway: Hackers with links to China compromised US telecom networks, intercepting surveillance data intended for American law enforcement agencies.

US authorities revealed that China-linked hackers infiltrated multiple telecommunications networks, stealing call records and communications data from a limited group of US customers involved primarily in government or political activity. This breach includes sensitive information requested by US law enforcement, according to a joint statement from the FBI and CISA.

The statement, while sparse on details, confirms prior reports suggesting that Chinese hackers accessed US interception systems, raising concerns about the security of American telecom infrastructure. These hackers reportedly targeted telephones belonging to high-profile political figures, including past presidential candidates, compounding the urgency of cybersecurity measures.

The Cyber Safety Review Board of the Department of Homeland Security is set to investigate the breach, examining causes and potential fallout. Beijing routinely denies hacking allegations, and the Chinese Embassy in Washington has not yet responded to requests for comment.

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