The Northern Line Extension’s opening in 2021 has enabled the growth of the Nine Elms and Battersea areas, and today's system, which is once again moving millions of people around every day, helps London continue to recover from the pandemic. ![]() The growth of the early network led to the expansion of the suburbs in the last century, while the extension of the Jubilee line led to the development of Canary Wharf's financial powerhouse in the 1980s. Metronet is responsible under a 30-year public-private partnership contract for the infrastructure of the Bakerloo, Central, Victoria, Waterloo & City Tube lines via Metronet BCV, and the Metropolitan, District, Circle, Hammersmith & City and East London sub-surface lines via Metronet SSL.The Tube has always played an important role in the success of London. The remaining 1.02 billion is in senior secured bank loans, which are rated Ba1 and on which the rating may fall further, Moody’s said. The units have just over 2 billion pounds of rated debt, of which 1.08 billion is insured and therefore has the highest rating. Last month, Moody’s Investors Service cut to “junk” the ratings on Metronet’s finance vehicles - Metronet Rail BCV Finance and Metronet Rail SSL Finance - saying both companies may face problems in cutting costs and overhauling the network within their available funding limits. ![]() Metronet is owned by WS Atkins ATK.L, Balfour Beatty BBY.L, Bombardier Inc.'s BBDa.TO rail equipment unit Bombardier Transportation, EDF Energy EDF.PA and Thames Water.
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