Thames Water Utilities Limited

Capital/Financing Update • Mar 25, 2020

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RNS Number : 5892H

Thames Water Utilities Limited

25 March 2020

THAMES WATER UTILITIES LIMITED

THAMES WATER UTILITIES FINANCE PLC

THAMES WATER (KEMBLE) FINANCE PLC

MOODY'S CREDIT RATING ANNOUNCEMENT

Moody's Rating Action

On 24 March 2020 Moody's Investors Service (Moody's) issued the following ratings actions:

·    Thames Water Utilities Limited - Corporate Family Rating downgraded by one notch from Baa1 (review for downgrade) to Baa2 (stable outlook);

·    Thames Water Utilities Finance plc - senior secured (Class A) debt downgraded by one notch from A3 (review for downgrade) to Baa1 (stable outlook);

·    Thames Water Utilities Finance plc - subordinated (Class B) debt downgraded by one notch from Baa3 (review for downgrade) to Ba1 (stable outlook);

·    Thames Water (Kemble) Finance plc - senior secured rating confirmed as B1 and moved from review for downgrade to stable outlook.

These rating actions conclude Moody's ratings review which was initiated on 20 December 2019, following the publication of Ofwat's Final Determination for the forthcoming five-year regulatory period (AMP7), commencing on 1 April 2020.

The full Moody's report is available to subscribers at: www.moodys.com

ENDS

Investor Contact

Tom Bolton                                                       07747 643 762

[email protected]

Media Contact

Stuart White                                                      020 3577 4364

[email protected]

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