Creditors of US territory’s water utility were protected during municipal default, suggesting Thames’s backers are safe, says Assured Guaranty bossThe largest creditor to struggling water company Thames Water has said it is confident that it will not lose money, joking that the UK was comparable to Puerto Rico, which paid lenders to its water company despite a crippling debt crisis.Dominic Frederico, the boss of US insurer Assured Guaranty, suggested that the UK government would not impose losses on creditors. The company – with an exposure of $2.4bn (£1.8bn) to Thames Water’s bonds – was “well protected in terms of the legal structure” from losing money, he told investors on a call on 8 August. Continue reading…