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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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Dollar Surge Sparks Drop in Asian Currencies and Stocks as Trump Trade Policies Weigh

Key Takeaway: Asian currencies and stocks tumbled as the US dollar hit a one-year high on trade policy concerns following Donald Trump's election victory.

Asian markets saw significant declines, with currencies like the ringgit, Thai baht, and Indonesian rupiah hitting multi-month lows. The ringgit recorded its fourth consecutive loss, while Malaysia’s and Thailand’s trade-dependent economies faced heightened risks from potential tariff hikes on exports to the US.

The Philippine stock index fell 2.3%, marking its seventh straight loss, with Jakarta’s index down over 1%. DBS analysts noted that Indonesia and India, with economies more reliant on domestic demand, showed relatively more resilience against tariff fears.

Key Market Reactions:

  • Outflows increased in Malaysia and Thailand, with their currencies losing approximately 4% since the US election.
  • Indonesia’s central bank pledged to monitor and intervene to stabilize the rupiah, which remains less impacted than other regional currencies.

In the near term, markets remain cautious, awaiting further Trump policy and cabinet announcements. Maybank analysts observed that the appetite for risk has become more measured, and support for the rupiah is expected at 15,882 per dollar.

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