Port Authority of New York&New Jersey; Appropriations; Ports/Port Authorities; Transit - S&P Global Ratings’ Credit Research

Port Authority of New York&New Jersey; Appropriations; Ports/Port Authorities; Transit

Port Authority of New York&New Jersey; Appropriations; Ports/Port Authorities; Transit - S&P Global Ratings’ Credit Research
Port Authority of New York&New Jersey; Appropriations; Ports/Port Authorities; Transit
Published Apr 25, 2024
15 pages (6526 words) — Published Apr 25, 2024
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings assigned its 'AA-' rating to the Port Authority of New York&New Jersey's (PANYNJ) pro forma $650 million 244th 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 Newark Housing Authority, N.J.'s series 2017 Port Authority-Port Newark Marine Terminal additional rent-backed refunding bonds. Finally, we affirmed our 'A+' long-term rating and SPUR on PANYNJ's series 2021A and 2021B liberty revenue bonds based on the weakest link between New York City and the PANYNJ (see Liberty Revenue Bond Rating section below). The

  
Brief Excerpt:

...+ S&P Global Ratings assigned its '##-' rating to the Port Authority of New York & New Jersey's (PANYNJ) pro forma $650 million 244th series consolidated bonds. + We also affirmed our '##-' long-term rating and underlying rating (SPUR) on PANYNJ's consolidated bonds outstanding. + In addition, we affirmed our '##-' long-term rating on New York Liberty Development Corp.'s series 1WTC-2021 liberty revenue bonds, and our '##-' long-term rating on Newark Housing Authority, N.J.'s series 2017 Port Authority-Port Newark Marine Terminal additional rent-backed refunding bonds. + Finally, we affirmed our 'A+' long-term rating and SPUR on PANYNJ's series 2021A and 2021B liberty revenue bonds based on the weakest link between New York City and the PANYNJ (see Liberty Revenue Bond Rating section below). + The outlook is stable....

  
Report Type:

Full Report

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

  
MLA:
S&P Global Ratings’ Credit Research. "Port Authority of New York&New Jersey; Appropriations; Ports/Port Authorities; Transit" Apr 25, 2024. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Port-Authority-of-New-York-New-Jersey-Appropriations-Ports-Port-Authorities-Transit-3158688>
  
APA:
S&P Global Ratings’ Credit Research. (). Port Authority of New York&New Jersey; Appropriations; Ports/Port Authorities; Transit Apr 25, 2024. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Port-Authority-of-New-York-New-Jersey-Appropriations-Ports-Port-Authorities-Transit-3158688>
  
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