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GMB warns ‘this cannot go on’ as Thames Water's credit rating slashed to junk
The logo of water company Thames Water seen through a glass of water

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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