Thames Water Debt Insurer Taps Advisers as Crisis Deepens (1)

A US insurance firm with at least $2 billion in exposure to Thames Water Utilities Finance Plc is working with bondholders and advisers to protect their interests ahead of potential debt talks, according to people familiar with the matter.

Assured Guaranty Ltd. and a group of noteholders have tapped lawyers at Kirkland & Ellis LLP and bankers at PJT Partners Inc, the people said, talking on the condition of anonymity. The insurer works with issuers of debt and provides insurance on notes that can mitigate losses for bondholders.

The US firm had an overall exposure of $2.1 billion-equivalent to Thames ...