NEW YORK (Standard&Poor's) July 17, 2008--Standard&Poor's Ratings Services has assigned its 'AA-' rating to the Port Authority Of New York And New Jersey's (PANYNJ or the authority) series 153 consolidated bonds. The outlook is stable. At the same time, Standard&Poor's affirmed its 'AA-' rating and underlying rating (SPUR) on the authority's existing consolidated bonds and consolidated notes, its 'A-1+' rating on the authority's commercial paper (CP) notes, and its 'A+/A-1+' split rating on the authority's series 1-6 versatile structure obligations (VSOs). "The 'AA-' rating reflects the diversity of the authority's operations, its very strong liquidity, and its critical position in the region, coupled with expected continued solid debt service coverage," said Standard&Poor's
