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GMB warns ‘this cannot go on’ as Thames Water's credit rating slashed to junk

THAMES WATER’s credit rating was downgraded to junk status today as union GMB warned workers still have “no good news or new investment.”

S&P Global Ratings and Moody’s warned Britain’s biggest water supplier is fast running out of money and is on the brink of default as they both cut their rating of its £15 billion debt pile by five notches to the lowest possible level.

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