The rating on the Port Authority of New York and New Jersey reflects Standard&Poor's continuing view that the Port Authority's financial profile has remained strong enough to support the existing rating due to 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. The Port Authority's airports—LaGuardia Airport (LGA), John F. Kennedy International Airport (JFK), and Newark Liberty International Airport (EWR)—are expected to continue to be negatively affected over the intermediate to longer term as a result of the airlines experiencing weak traffic levels, reduced financial margins and liquidity, general instability, and higher costs and debt levels than previously expected. The
