Port Authority of New York And New Jersey 195th And 196th Series Consolidated Bonds Rated 'AA-'; Other Ratings Affirmed

NEW YORK (S&P Global Ratings) May 3, 2016--S&P Global Ratings has assigned its 'AA-' rating to the Port Authority of New York&New Jersey's (PANYNJ) 195th and 196th series consolidated bonds. At the same time, S&P Global Ratings affirmed its ratings on the PANYNJ's existing debt. The outlook is stable. We expect officials to use the 195th bond proceeds to fund capital expenditures and to refund certain PANYNJ obligations. "The 'AA-' rating reflects our opinion of the diversity of PANYNJ's operations, very strong liquidity, and vital role in the region; and our expectation of continued strong debt service coverage," said S&P Global Ratings credit analyst Joseph Pezzimenti. The authority is a critical transportation link in the New York State

...NEW YORK (S&P Global Ratings) May 3, 2016--S&P Global Ratings has assigned its '##-' rating to the Port Authority of New York & New Jersey's (PANYNJ) 195th and 196th series consolidated bonds. At the same time, S&P Global Ratings affirmed its ratings on the PANYNJ's existing debt. The outlook is stable. We expect officials to use the 195th bond proceeds to fund capital expenditures and to refund certain PANYNJ obligations. "The '##-' rating reflects our opinion of the diversity of PANYNJ's operations, very strong liquidity, and vital role in the region; and our expectation of continued strong debt service coverage," said S&P Global Ratings credit analyst Joseph Pezzimenti. The authority is a critical transportation link in the New York State and New Jersey region, operating the area's three major airports, key bridge-and-tunnel crossings between the two states, and various marine terminals. Financial performance has been historically strong with strong DSC and liquidity; we expect this...

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