Standard&Poor's Ratings Services assigned its 'AA-' rating to the Port Authority of New York and New Jersey's (PANYNJ, or the port authority) $400 million consolidated bonds, 140th series, and affirmed its ratings on PANYNJ's $8.5 billion of outstanding consolidated bonds and notes and $280 million of CP notes. The 'AA-' rating reflects PANYNJ's diversity of operations, very strong liquidity, and critical position in the region, combined with anticipated continued solid debt service coverage. More specifically, the rating reflects the following strengths: PANYNJ serves as a critical transportation link in the New York/New Jersey area, operating the three major airports in the region, key bridge and tunnel crossings between the two states, and various marine terminals. Financial performance has
