TfL debt ratings downgraded by Moody’s

The debt ratings agency, Moody’s has lowered TfL’s debt ratings, with Moody’s citing weaker economic growth and higher inflation which is hindering the recovery of passenger growth. The implication is that as ratings are used by banks and lenders to judge how likely a firm is to repay its debt, lower ratings usually leads to higher costs as lenders charge more to companies at a higher risk of not being able to pay back their loans.
TfL’s debt stood at £13,070 m