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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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Some Bali Flights Resume as Conditions Improve After Mount Lewotobi Laki-laki Eruptions

Key Takeaway: Several international airlines have resumed flights to Bali following multiple eruptions of Mount Lewotobi Laki-laki that disrupted travel and forced cancellations.

International flights to Bali have gradually resumed after the Mount Lewotobi Laki-laki volcano erupted, sending ash up to 10km into the air and causing widespread flight disruptions. Over 160 flights were canceled between Nov 4 and Nov 13, with 91 cancellations on Wednesday alone, according to Ahmad Syaugi Shahab, general manager of Bali’s Ngurah Rai airport.

Virgin Australia confirmed it has resumed all scheduled flights, while Jetstar and Qantas have restarted some flights as conditions improved. However, 41 flights remain canceled, affecting routes from Singapore, India, Qatar, and Australian cities.

The eruption on Nov 3 killed nine people, damaged over 2,000 homes, and led to the evacuation of 13,000 residents. Indonesian Vice President Gibran Rakabuming Raka is visiting the affected areas to assess damage and provide aid.

Indonesia, with close to 130 active volcanoes, sits along the Pacific "Ring of Fire", making it highly prone to seismic and volcanic activity.

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