Bonds could flow as CKI eyes Northumbrian Water

01 Jul 2011

Northumbrian Water’s bonds widened slightly on Monday and Tuesday, after Cheung Kong Infrastructure Holdings said on Monday that it was assessing a potential cash offer for the UK utility. But bond investors are at least as likely to welcome a takeover as fear it.

Like all UK utilities, Northumbrian Water Group’s operating companies are regulated, so have to maintain their ratings at a level that is comfortably investment grade. For the water industry, this is interpreted to mean high triple-B.

Northumbrian Water Ltd is rated Baa1/BBB+/BBB+ (all stable), while Northumbrian Water Finance Plc, ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.

Oops, something went wrong

We're sorry but at the moment we can't load this data