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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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Japan Plans $87 Billion Supplementary Budget for New Stimulus Package

Key Takeaway: Japan is preparing a ¥13.5 trillion (US$87 billion) extra budget aimed at supporting low-income households and managing rising costs, according to the Sankei newspaper.

The Japanese government is set to implement a supplementary budget of about ¥13.5 trillion to fund a new stimulus package. This includes direct aid to low-income households, providing ¥30,000 to those exempt from residential taxes and ¥20,000 per child for families. The plan also proposes restarting subsidies for electricity and gas from January to counter high fuel prices.

Prime Minister Shigeru Ishiba is expected to finalise the package by Nov 22. This budget reflects Japan’s commitment to shielding vulnerable populations from economic pressures amid global price increases.

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