Moody’s revises Northumbrian Water to negative

Moody's Investors Service said it changed the outlook on the Baa1 issuer rating of Northumbrian Water Ltd. (NWL) and the Baa1 senior unsecured debt ratings of Northumbrian Water Finance plc, guaranteed by NWL, to negative from stable.

At the same time, the agency affirmed all ratings.

Moody’s said its decision to change the outlook to negative reflects the risk that NWL and its parent Northumbrian Water Group Ltd. may fail to return credit metrics to levels consistent with current ratings absent significant outperformance against regulatory assumptions and at least moderate inflation.

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