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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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Johor Plantations Shares Surge as Analysts Boost Forecasts After Strong 3Q Performance

Key Takeaway: Johor Plantations Bhd’s shares climbed 6.4% following robust third-quarter earnings, prompting analysts to raise forecasts amid higher crude palm oil (CPO) prices.

KUALA LUMPUR (Nov 14): Shares of Johor Plantations Bhd surged to RM1.33 in morning trades before settling at RM1.28, after the company’s better-than-expected 3Q results. The stock has rallied over 50% since its IPO in July, benefiting from rising CPO prices and increased production.

Analysts revised their outlook, as net profit from January to September exceeded 80% of full-year estimates, with expectations of continued strength into the final quarter, driven by higher product prices and above-average growth in output. RHB Investment Bank noted that Johor Plantations’ valuation remains attractive, trading at nearly 12 times forward earnings, a midpoint among its peers.

Highlights:

  • Price Target: The stock has a consensus 12-month target price of RM1.54, implying a 21% potential return.
  • CPO Sensitivity: Each RM100 rise in CPO price could increase annual earnings by RM22 million.
  • Expansion Plans: Two new biomethane plants set for 2025 are expected to double capacity, adding up to RM4 million in yearly earnings after breakeven.

Johor Plantations reported a 13% year-on-year net profit increase to RM77.1 million, with revenue up 18.3% to RM404.13 million for the period ending Sept 30, 2024.

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