Bazalgette Tunnel’s £75 million fixed-rate senior secured green notes score E1/95 under S&P Global Ratings’ Green Evaluation, covered by the specialist press

S&P Global Ratings has assigned Bazalgette Tunnel Ltd’s £75 million fixed-rate senior secured green note issuance a score of E1/95 under its Green Evaluation, representing the highest score on the E1-E4 scale. Proceeds from the issuance will be used to design, build and maintain the Thames Tideway Tunnel in London.

Noemie de la Gorce, the primary analyst of the Green Evaluation, commented on the “positive environmental impact from the increase of available fresh water in the tidal Thames from wastewater treatment, as well as carbon savings.”

Following Moorgate’s outreach, news of the Green Evaluation was covered by WaterBriefing and The Water Report and Global Legal Chronicle.