NEW YORK (Standard&Poor's) March 7, 2008--Standard&Poor's Ratings Services assigned its 'AA-' rating, and stable outlook, to the Port Authority of New York and New Jersey's (PANYNJ) $350 million series 150 and $350 million series 151 consolidated bonds. At the same time, Standard&Poor's affirmed its 'AA-' rating and underlying rating (SPUR) on the Port Authority's existing consolidated bonds and consolidated notes, its 'A-1+' rating on the Port Authority's commercial paper notes, its 'A+/A-1+' split rating on the Port Authority's series one to six versatile structure obligations (VSOs), and its 'A+' rating on the Port Authority's series seven and eight VSOs. The outlook is stable. The authority will use bond proceeds to refund its series seven
