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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’s Economic Rebound Shows Promise, But Sustainability Remains Uncertai

China’s economy is forecasted to show a modest recovery in October, spurred by recent government stimulus efforts. Key economic indicators are anticipated to reflect this improvement when data is released on Friday, with industrial production expected to rise 5.6% from last year, marking the highest growth since May, and retail sales projected to increase by 3.8%.

Despite these signs of momentum, sustained growth remains uncertain. Concerns linger over a potential impact from President-elect Donald Trump’s tariff threats, which could significantly reduce China’s export earnings.

Highlights of the expected data include:

  • Industrial output: Predicted to achieve the strongest growth rate in months.
  • Retail sales: Boosted by October's holiday season, though still below pre-pandemic levels.
  • Fixed-asset investment: Likely up by 3.5% year-to-date.
  • Housing market: Early data shows a 7.1% rise in property sales in October, though prices and long-term investments remain challenged.

While initial improvements are evident, economists highlight that sustaining this rebound depends heavily on effective execution of fiscal, monetary, and housing policies to counteract ongoing challenges, particularly in property and consumer spending.

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