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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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Standard Chartered Loses Key Finance Bankers in India and Singapore Amid Restructuring

Key Takeaway: Standard Chartered has seen a wave of resignations from its corporate finance division in India and Singapore, as dealmaking activity intensifies and rival firms seek talent.

Standard Chartered Plc is facing significant departures from its financing and credit teams across India and Singapore, with four bankers in India and two in Singapore leaving in the past six months. Notable exits include Karan Maroo and Vikash Bihani in Mumbai, as well as Jay Sheth in Singapore. Bihani recently joined Mashreqbank PSC as head of investment banking, following a 15-year tenure at Standard Chartered.

The departures come amid a global restructuring led by CEO Bill Winters, aiming to integrate the bank’s credit markets and mergers advisory teams. This restructuring aligns with Standard Chartered's focus on increasing relationship managers in India to expand wealth management, particularly targeting smaller towns.

Despite these changes, Standard Chartered remains a leading player in India, ranking first in arranging dollar bond sales from Indian borrowers and third in local currency loans for corporate clients.

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