NEW YORK (Standard&Poor's) Jan. 16, 2004--Standard&Poor's Ratings Services assigned its 'AA-' rating to the Port Authority of New York and New Jersey's ("PANYNJ") $244 million and $250 million consolidated bonds, 133rd and 134th series. The ratings are also affirmed on all outstanding consolidated notes and bonds issued by the Port Authority of New York and New Jersey. The outlook has been revised to stable from negative due to the Port Authority's recovery in passenger activity at all three of its airports and solid financial performance. "In our view, the PANYNJ's financial profile has remained strong enough to support the existing ratings due to its diversity of operations, very strong liquidity, and critical position in the region,
