New Northumbrian structure questioned
- From: Vol 4, Issue 6 (June 2003)
- Category: General
- Region: Europe
- Related Companies: Barclays Capital, Collins Stewart, Deutsche Bank, Ecofin, Mid Kent Water, Northumbrian Water, Ondeo and Standard & Poor’s
There are concerns that the newly floated Northumbrian Water Group could struggle to raise capital cost-effectively following a downgrading of its debt.
The £2.2 billion takeover of Northumbrian Water has raised anxieties about the company’s future ability to secure funding, after ratings agency Standard & Poor’s immediately downgraded its existing debt.
The late and surprise bid for Northumbrian from a group of investors led by Deutsche Bank, Collins Stewart and Ecofin – based on a stock market flotation – beat off rival ...
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