Thames Water has asked creditors to extend the repayment deadline on part of its £20-billion debt pile to March 2028, The Guardian reported Monday.

The utility, described by the newspaper as the United Kingdom’s largest water company, said it had proposed an “interim” deal as it struggles to stay afloat. The request covers an unspecified portion of the debt on its balance sheet, rather than the full £20 billion.

The supplied report did not say whether creditors had agreed to the proposed extension or how much debt would be covered.

Sources