Britain's Thames Water says equity raise 'progressing'

LONDON (Reuters) - Britain's Thames Water said its equity raise was progressing, the next stage of a rescue plan after it secures a 3 billion pound ($3.83 billion) facility to help it survive into the new year.

"We've reached key milestones in establishing a more stablefinancial platform, agreeing a liquidity extension transaction proposal and progressing our equity raise process," Chief Executive Chris Weston said in a statement on Tuesday.

($1 = 0.7840 pounds)

(Reporting by Sarah Young, Editing by Paul Sandle)