Port Authority of New York&New Jersey 248th Series Consolidated Bonds Assigned 'AA-' Rating; Outlook Is Stable - S&P Global Ratings’ Credit Research

Port Authority of New York&New Jersey 248th Series Consolidated Bonds Assigned 'AA-' Rating; Outlook Is Stable

Port Authority of New York&New Jersey 248th Series Consolidated Bonds Assigned 'AA-' Rating; Outlook Is Stable - S&P Global Ratings’ Credit Research
Port Authority of New York&New Jersey 248th Series Consolidated Bonds Assigned 'AA-' Rating; Outlook Is Stable
Published Apr 04, 2025
3 pages (1399 words) — Published Apr 04, 2025
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

BOSTON (S&P Global Ratings) April 4, 2025--S&P Global Ratings assigned its 'AA-' rating to the Port Authority of New York&New Jersey's (PANYNJ) pro forma $625 million 248th series consolidated bonds. We also affirmed our 'AA-' long-term rating and underlying rating (SPUR) on PANYNJ's consolidated bonds outstanding. In addition, we affirmed our 'AA-' long-term rating on New York Liberty Development Corp.'s series 1WTC-2021 liberty revenue bonds and our 'AA-' long-term rating on the Newark Housing Authority, N.J.'s series 2017 Port Authority-Port Newark Marine Terminal additional rent-backed refunding bonds. Annual payments from the PANYNJ, together with money held in the debt service reserve fund (DSRF), secure the bonds. We consider the lease payments to be an operating expense of PANYNJ and

  
Brief Excerpt:

...Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such...

  
Report Type:

Ratings Action

Issuer
Port Authority of New York&New Jersey
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Port Authority of New York&New Jersey 248th Series Consolidated Bonds Assigned 'AA-' Rating; Outlook Is Stable" Apr 04, 2025. Alacra Store. May 11, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Port-Authority-of-New-York-New-Jersey-248th-Series-Consolidated-Bonds-Assigned-AA-Rating-Outlook-Is-Stable-3349090>
  
APA:
S&P Global Ratings’ Credit Research. (). Port Authority of New York&New Jersey 248th Series Consolidated Bonds Assigned 'AA-' Rating; Outlook Is Stable Apr 04, 2025. New York, NY: Alacra Store. Retrieved May 11, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Port-Authority-of-New-York-New-Jersey-248th-Series-Consolidated-Bonds-Assigned-AA-Rating-Outlook-Is-Stable-3349090>
  
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