NEW YORK (Standard&Poor's) June 3, 2005--Standard&Poor's Ratings Services assigned its 'AA-' rating to the Port Authority of New York and New Jersey's (Port Authority) $400 million consolidated bonds, 140th series. The outlook is stable. The rating on the Port Authority's consolidated bonds reflects its diversity of operations, very strong liquidity, and critical position in the region, combined with anticipated continued solid debt service coverage. "We expect the continued overall strong demand for the Port Authority's facilities, the strong regional essentiality, and the ability of management to continue to balance the capital needs of the existing system while maintaining sound financial operations to support this rating," said Standard&Poor's credit analyst Laura Macdonald. "In addition, the
