Creditors of Britain's largest water provider Thames Water are planning to inject more than 1 billion pounds ($1.3 billion) into the utility before the end of the year, The Times reported on Sunday, citing sources.

Thames Water creditors are planning to inject more than £1 billion ($1.33 billion) into the utility before the end of the year to help to get its finances in order, The Times reported, citing sources it didn’t identify.

Plans to inject £1billion into Thames Water before the end of the year will provide a lifeline as it works to stabilise its finances. Hedge funds and institutional investors holding approximately £10billion of the water company's debt believe the firm requires an interim cash injection to maintain operations and prepare for a comprehensive