TfL gets debt ratings upgrade, but need for long-term government support highlighted

Transport for London’s finances have been given a vote of confidence after one of the debt ratings agencies upgraded the quality of TfL debt.
When TfL borrows money by issuing debt, it is given a quality score by the ratings agencies, and that affects how much TfL has to pay in interest payments. The better the quality score, the lower the cost of servicing the debt.
The ratings agencies periodically report on company debts. Now Standard & Poor’s (S&P) has lifted TfL’s