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Utilities: Week in Review

UTILITIES

Utilities close the week 6bp wider, skewed by Thames Water (+45bp) heading towards the SAR and debt haircut scenario. Away from that spreads were around 2bp wider, outperforming other sectors slightly. Taqa’s interest in Naturgy generated many headlines but ultimately not much credit impact. Primary saw one deal for € Gasunie, with Fluvius mandating for next week.

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