Transport for London's long-term financial rating has been upgraded from 'stable' to 'positive' by the risk assessment firm Moody's.
Securing a multi-year funding agreement with the Government to finance TfL’s capital programme with minimal conditions could lead to a further improvement in its future financial ratings, said Moody's.
But it also warned that a decrease in Government support, including significant underfunding of TfL’s capital funding or an agreement which...
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