NEW YORK (Standard&Poor's) Sept. 19, 2007--Standard&Poor's Ratings Services assigned its 'A+' rating, and stable outlook, to the Port Authority of New York and New Jersey's (PANYNJ) $350 million versatile structure obligations (VSO) series eight. The VSOs are auction-rate securities. At the same time, Standard&Poor's affirmed its 'AA-' rating and underlying rating (SPUR) on the Port Authority's existing consolidated bonds, consolidated notes, and CP notes; its 'A+/A-1+' split rating on the Port Authority's VSO series one to six; and its 'A+' rating on the Port Authority's VSO series seven. The outlook is stable. The short-term component on the VSO series one to six is based on the ratings of the respective liquidity banks providing liquidity
