Port Authority of New York&New Jersey's 200th-202nd Series Consolidated Bonds Rated 'AA-'; Other Ratings Affirmed

NEW YORK (S&P Global Ratings) April 21, 2017--S&P Global Ratings has assigned its 'AA-' rating to the Port Authority of New York&New Jersey's (PANYNJ) pro forma $250 million 200th, $300 million 201st, and $445 million 202nd series consolidated bonds. The outlook is stable. At the same time, S&P Global Ratings affirmed its ratings on the PANYNJ's other debt outstanding. "The 'AA-' rating reflects our opinion of the diversity of the PANYNJ's operations, very strong liquidity, and vital role in the region; and our expectation of continued strong debt service coverage," said S&P Global Ratings credit analyst Joseph Pezzimenti. We expect officials to use bond proceeds to fund capital projects in connection with authority facilities and to refund some

...NEW YORK (S&P Global Ratings) April 21, 2017--S&P Global Ratings has assigned its '##-' rating to the Port Authority of New York & New Jersey's (PANYNJ) pro forma $250 million 200th, $300 million 201st, and $445 million 202nd series consolidated bonds. The outlook is stable. At the same time, S&P Global Ratings affirmed its ratings on the PANYNJ's other debt outstanding. "The '##-' rating reflects our opinion of the diversity of the PANYNJ's operations, very strong liquidity, and vital role in the region; and our expectation of continued strong debt service coverage," said S&P Global Ratings credit analyst Joseph Pezzimenti. We expect officials to use bond proceeds to fund capital projects in connection with authority facilities and to refund some consolidated bonds and a portion of commercial paper outstanding. For 2016, the combined revenue passengers for PANYNJ's three major airports -- John F. Kennedy International Airport, LaGuardia Airport, and Newark Liberty International Airport...

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