Port Authority of New York&New Jersey Series 242, 243 Consolidated Bonds Assigned ?AA-? Rating - S&P Global Ratings’ Credit Research

Port Authority of New York&New Jersey Series 242, 243 Consolidated Bonds Assigned ?AA-? Rating

Port Authority of New York&New Jersey Series 242, 243 Consolidated Bonds Assigned ?AA-? Rating - S&P Global Ratings’ Credit Research
Port Authority of New York&New Jersey Series 242, 243 Consolidated Bonds Assigned ?AA-? Rating
Published Aug 24, 2023
2 pages (1135 words) — Published Aug 24, 2023
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Aug. 24, 2023--S&P Global Ratings assigned its 'AA-' rating to the Port Authority of New York&New Jersey's (PANYNJ) pro forma $535 million 242nd and $545 million 243rd series consolidated bonds. The outlook is stable. "The rating reflects our expectation that the PANYNJ's enterprise risk and financial risk profiles will remain extremely strong and strong, respectively," said S&P Global Ratings credit analyst Joe Pezzimenti. The stable outlook reflects our expectation that the PANYNJ will adjust revenues, expense, and capital spending as needed to maintain financial metrics (S&P Global Ratings-calculated) consistent with a strong financial risk profile. We could lower the rating during the two-year outlook period if we believe the PANYNJ's relatively high debt

  
Brief Excerpt:

...August 24, 2023 NEW YORK (S&P Global Ratings) Aug. 24, 2023--S&P Global Ratings assigned its '##-' rating to the Port Authority of New York & New Jersey's (PANYNJ) pro forma $535 million 242nd and $545 million 243rd series consolidated bonds. The outlook is stable. "The rating reflects our expectation that the PANYNJ's enterprise risk and financial risk profiles will remain extremely strong and strong, respectively," said S&P Global Ratings credit analyst Joe Pezzimenti. The stable outlook reflects our expectation that the PANYNJ will adjust revenues, expense, and capital spending as needed to maintain financial metrics (S&P Global Ratings-calculated) consistent with a strong financial risk profile. We could lower the rating during the two-year outlook period if we believe the PANYNJ's relatively high debt and significant ongoing significant capital needs will pressure financial metrics (S&P Global Ratings-calculated) to levels consistent with a weaker financial risk profile for an extended...

  
Report Type:

Ratings Action

Issuer
Port Authority of New York&New Jersey
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Port Authority of New York&New Jersey Series 242, 243 Consolidated Bonds Assigned ?AA-? Rating" Aug 24, 2023. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Port-Authority-of-New-York-New-Jersey-Series-242-243-Consolidated-Bonds-Assigned-AA-Rating-3047100>
  
APA:
S&P Global Ratings’ Credit Research. (). Port Authority of New York&New Jersey Series 242, 243 Consolidated Bonds Assigned ?AA-? Rating Aug 24, 2023. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Port-Authority-of-New-York-New-Jersey-Series-242-243-Consolidated-Bonds-Assigned-AA-Rating-3047100>
  
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