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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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Cisco Exceeds Earnings Forecast as AI Boosts Networking Gear Demand

Key Takeaway: Cisco's Q1 results beat expectations due to rising demand for networking equipment driven by AI, with the company forecasting strong revenue and profit for the next quarter.

Cisco Systems posted stronger-than-expected first-quarter results, benefiting from increased demand for networking gear like ethernet switches and routers, spurred by the AI boom. The company's second-quarter revenue outlook of $13.75 billion to $13.95 billion surpassed Wall Street estimates, reflecting continued growth momentum.

While Cisco's networking equipment business has faced challenges from supply chain issues and a slowdown post-pandemic, it is shifting focus to cybersecurity, cloud systems, and AI-driven products. To support this transition, Cisco completed its $28 billion acquisition of Splunk in March, aimed at strengthening its software and cybersecurity capabilities.

In Q1, revenue declined by 6% to $13.84 billion but still exceeded the estimated $13.77 billion. The adjusted profit per share of 91 cents also beat the expected 87 cents. Cisco raised its annual revenue forecast to $55.3 billion to $56.3 billion, with an adjusted profit forecast of $3.60 to $3.66 per share.

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