Thames Water has had its credit rating downgraded to "junk" status by influential ratings agency Moody's.The downgrade indicates the credit agency thinks the utilities company is likely to default on its debt and may add to its financial pressures.It comes weeks after regulator Ofwat said it will impose a "turnaround oversight regime" on Thames Water.

Thames Water has had its credit rating downgraded to "junk" status by influential ratings agency Moody's.The downgrade indicates the credit agency thinks the utilities company is likely to default on its debt and may add to its financial pressures.It comes weeks after regulator Ofwat said it will impose a "turnaround oversight regime" on Thames Water.