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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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Zeekr to Take Control of Lynk & Co in Major Restructuring by Geely

Key Takeaway: Zeekr will acquire a majority stake in Lynk & Co as Geely Holding restructures its brands to streamline operations and cut costs.

Chinese premium electric vehicle maker Zeekr is set to take control of Lynk & Co, a brand co-owned by Geely and Volvo Cars, in a significant restructuring move. Under the deal, Zeekr will buy Volvo’s 30% stake and a 20% stake from Geely Holding, raising its total ownership to 51% with a capital injection, according to sources.

This restructuring, part of Geely’s shift from acquisitions to deep integration, aims to improve efficiency and clarify each brand’s market position. Zeekr will lead innovation in electric and connected vehicles within the group, sharing research with brands like Lynk and Polestar.

Deal Highlights:

  • Value: Lynk & Co valued at 18 billion yuan (US$2.5 billion).
  • Timeline: Completion expected by June next year.
  • Sales Growth: Zeekr’s nine-month sales rose 81% to nearly 143,000 units, while Lynk saw a 40% increase with 195,600 vehicles sold.

The restructuring reflects Geely chairman Eric Li’s September directive to avoid model overlap and maximize operational efficiency across Geely’s brands.

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