Ofwat publishes review into Northumbrian Water's financial position.

0 Comments | M2 Presswire, July, 2004

M2 PRESSWIRE-12 July 2004-UK Government: Ofwat publishes review into Northumbrian Water's financial position(C)1994-2004 M2 COMMUNICATIONS LTD RDATE:07122004 Ofwat today published its review into the financial position of Northumbrian Water. This follows Ofwat's position paper, issued last August, after the company suffered a down-grading of its credit quality immediately after its acquisition by Northumbrian Water Group plc in May last year.

The review concludes that, since that time, the water company has taken adequate steps to demonstrate both to the capital markets and to Ofwat that it is able to raise finance to fund future investment programmes. Northumbrian's credit rating has improved due to a number of steps taken by the company including its...