TfL’s debt gets rating upgrade

TfL’s long-term financial outlook looks better after the debt ratings agency, Fitch upgraded TfL’s debt, although it is retaining a negative outlook due to the wider UK’s economic situation. Debt ratings matter as they affect how much it costs for TfL to service its existing debt, and borrow more money in the future.TfL had just under £13 billion of debt at the end of March 2022, which is mostly raised through selling bonds, a type of debt that can be roughly described as