The group has a contractual relationship with both Moody's Investors Service (Moody's) and Standard & Poor's Ratings Services (S&P) for the provision of rating information.

Management of the group meets these agencies at least annually and shares with them the group's latest financial projections and business plan assumptions.

Senior unsecured debt obligations of the issuers are rated as follows:



Standard Poor's

United Utilities PLC

Baa1 / stable BBB- / positive 

United Utilities Water Limited

A3 / stable

BBB+ / positive

Any notes issued by UUW's financing subsidiary United Utilities Water Finance PLC under the group's euro medium term note programme are unconditionally and irrevocably guaranteed by UUW and therefore are expected to be rated in line with UUW's credit rating.

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