Thames Water faces more problems after being downgraded by one of the leading financial authorities in the world. Moody’s Ratings says the water firm, which supplies households in West Berkshire, now has a negative outlook, and a debt rate of B3, one of the lowest possible. It is known as a ‘junk’ rating and means Moody’s thinks there is a possibility Thames Water could default on its debts. Its parent company has defaulted on some of its loan payments that contribute to a total debt of £16.5bn. There are fears that the company could now run out of money by May next year. The Reading-based com…