South East Water signals it could run out of money by July 2027

South East Water's annual report flags "material uncertainty" about its survival. The utility, serving 2.4 million people across southern England, has funds only through July 2027 and needs new loans not yet committed. Losses widened to £33 million despite a 7% bill hike. Moody's downgraded it to junk — meaning below investment grade. Lender talks are "advanced" but not legally binding.