In May 2016, Bazalgette Tunnel Ltd. (trading as Tideway) established a £10 billion, multicurrency bond program to raise proceeds to design, build, commission, and maintain the Thames Tideway Tunnel (TTT) in London. The TTT is a 25-kilometer (16 mile) tunnel that aims to manage the amount of sewage discharged into the River Thames and the growth in water and sewerage-treatment demand from London’s growing population. The construction of the TTT is part of the broader London Tideway Improvements (LTI) plan, which supports the U.K.’s effort to comply with the 1991 EU Urban Waste Water Treatment Directive. Tideway was incorporated in 2015 as a regulated infrastructure provider, currently deriving all its revenues from the construction of TTT. At the issuer’s request and following TTT’s updated framework, we have conducted a review of our initial green transaction. The revised environmental benefit score is 95 (97 previously) with an advanced governance and reporting opinion.