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
Key Takeaway: Taiwan is open to discussions with the incoming Trump administration on strengthening its defense but has not presented a specific list of new arms requests.
Taiwan has no concrete list of new arms deals prepared for the US, according to senior security officials, though the island remains eager to explore options for enhancing its self-defense capabilities. President-elect Trump previously suggested Taiwan should contribute to "protection" costs, prompting considerations of future arms deals.
Taiwan’s defense budget has increased by about 80% since 2016, with an existing backlog of $20 billion in US arms orders and a recent $2 billion order for radar and missile systems. Discussions with the US focus on ensuring Taiwan’s current military systems can counteract escalating military pressure from China, which opposes arms sales to Taiwan.
Taiwan continues to assess its defense needs, including expanding its drone fleet for strategic purposes, but no new arms talks have begun with the US.
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