Tideway given high green rating

Thames Tideway’s £10bn of bonds have been given the top score in a green evaluation by ratings agency S&P Global.

The firm has given the bonds a green evaluation score of 95 out of 100, equivalent to an E1, the highest score on S&P’s scale (E4 is the lowest).

In its rationale for the high score, S&P pointed to good transparency, reflecting the disclosure requirements set by the regulators, and the fact that system enhancement projects such as this one “increase the availability of fresh water in the tidal Thames for general purposes and do not result in a significant by-product with a negative water impact”.

In July, Bazalgette Finance, the consortium behind the Thames Tideway project, signed a deal with four US-based institutional investors.