A victory on a waterway (4)

I believe the answer is:

avon

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'a waterway' is the definition.
Both the definition and answer are singular nouns.
Maybe there's an association between them I don't understand?

'a victory on' is the wordplay.
'victory' becomes 'v'.
'a'+'v'+'on'='AVON'

Can you help me to learn more?

(Other definitions for avon that I've seen before include "Bath's river" , "Former English county" , "English river flowing through Stratford" , "Casual attitude" , "Shakespeare is know as the Bard of . . . ." .)

I've seen this clue in The Mirror.

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