Thames Water has won a crucial High Court battle to secure a £3bn rescue loan, staving off the prospect of the debt-laden company coming under government control.
The UK’s largest water and waste company was set to run out of cash by the end of March and would have likely been placed into temporary nationalisation to keep services running.
The court decision on Tuesday has given the supplier a financial lifeline to undergo a major restructure, but the future of the company remains uncertain as it struggles with around £17bn worth of debt.
Thames has also faced heavy criticism over its performance in recent years following a series of sewage discharges and leaks.
