NEW YORK (Standard&Poor's) March 29, 2010-- Standard&Poor's Ratings Services assigned its 'AA-' long-term rating to the Port Authority of New York and New Jersey's (PANYNJ or the authority) $116.8 million consolidated bonds, 162nd series. Standard&Poor's also affirmed its 'AA-' long-term and underlying ratings (SPURs) on the authority's existing consolidated bonds and its 'A+/A-1+' ratings on the authority's series 3 and 4 versatile structure obligations (VSO). We have also affirmed our 'A+' rating on the authority's series 1 VSO. Finally, Standard&Poor's affirmed its 'A-1+' short-term rating on the authority's outstanding commercial paper. The outlook on the long-term ratings and SPURs is stable. "In our opinion, the 'AA-' rating reflects the diversity of the
