Standard&Poor's Ratings Services assigned its 'AA-' rating to the Port Authority of New York and New Jersey's (PANYNJ) $244 million and $250 million consolidated bonds, 133rd and 134th series. The ratings are also affirmed on all outstanding consolidated notes and bonds issued by the PANYNJ. The outlook has been revised to stable from negative due to the PANYNJ's recovery in passenger activity at all three of its airports and solid financial performance. The rating reflects Standard&Poor's continuing view that the PANYNJ's financial profile has remained strong enough to support the existing ratings due to its diversity of operations, very strong liquidity, and critical position in the region, along with anticipated continued solid debt service coverage. More
