Creditors of Thames Water offer £4billion debt write-off

A RESCUE package has been put together for struggling Thames Water — but on the condition the company is granted more lenient pollution targets.

- By Mauricio Alencar

Creditors will allow a £4billion write-off of the water giant's debt - 25% of its total. But the group, under the consortium London & Valley Water, want regulators to soften targets on sewage.

Lenders to Thames Water said its plan was the “fastest and most reliable route” to save the UK’s largest utility company, which has been under intense pressure for nearly two years.