Standard & Poor’s has predicted London mayor Ken Livingstone will have to look beyond government grants to fund his £900m-a-year transport plans.
It said wider funding pressures on the Department for Transport meant some of Transport for London’s (TfL) schemes might warrant a review.
The credit rating agency re-issued TfL with an AA rating on the back of the transfer of London Underground and better ties with the government.
References: Financial Times 05/03/04 page 4
