NEW YORK (Standard&Poor's) May 30, 2002--Standard&Poor's assigned its double-'A'-minus rating to the Port Authority of New York and New Jersey's $300 million series 126 consolidated bonds. The outlook is negative. "The rating reflects our continuing view that the Port Authority's financial profile has remained strong enough to support the existing ratings because of its diversity of operations, very strong liquidity, and critical position in the region, along with anticipated solid debt service coverage for the current and upcoming fiscal year," said credit analyst Joseph Pezzimenti. The Port Authority derived significant revenues from the World Trade Center. In fiscal 2001, gross operating revenues from the World Trade Center accounted for 11% of the Port Authority's total gross
