Original title: Thames Water’s Creditors Submit Revised Plan to Rescue Utility
A group of Thames Water’s senior creditors has submitted a new operational plan to the UK regulator as part of its bid to rescue and take over the ailing utility. The proposal includes revised measures to reduce pollution and leaks through steps such as the replacement of older water mains, according to a statement Wednesday. The group is also set to soon finalize a revised proposal to restructure Thames Water’s finances, which will include a write-off of several billion pounds of liabilities and new funds in the form of equity and debt.