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Thames Water rescue deal reaches ‘important milestone’ in creditor backing

Thames Water has won support from three-quarters of its creditors for an emergency funding deal which would throw the struggling utility company a £3 billion lifeline.

Thames Water is more than £16 billion in debt (Andrew Matthews/PA) Thames Water has won support from three-quarters of its creditors for an emergency funding deal which would throw the struggling utility company a £3 billion lifeline. The firm said on Wednesday that creditors holding more than 75% of its Class A debt – the least risky class of bonds in its debt pile – have agreed to the deal..