The water industry could be the next big issuer of securitizations in the U.K. But if water companies are going to be able to issue deals they may need to convince regulators that doing so will be in the interests of the industry as a whole.

The water regulatory body Office of Water Services (Ofwat) has made it clear that it is concerned about the possibility of securitization, following recent market rumors that both United Utilities and Severn Trent are weighing up possible secured bond issues.

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