Port Authority of New York&New Jersey's 207th And 208th Series Consolidated Bonds Rated 'AA-'; Other Ratings Affirmed

NEW YORK (S&P Global Ratings) Jan. 19, 2018--S&P Global Ratings has assigned its 'AA-' rating to the Port Authority of New York&New Jersey's (PANYNJ) pro forma $688.315 million, 207th series and $154.805 million, 208th series consolidated bonds. The outlook is stable. At the same time, S&P Global Ratings affirmed its 'AA-' rating, with a stable outlook, on the PANYNJ's existing consolidated bonds. "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 Joe Pezzimenti. The 207th series' bond proceeds will refund the authority's 151st and 152nd series and fund capital projects

...NEW YORK (S&P Global Ratings) Jan. 19, 2018--S&P Global Ratings has assigned its '##-' rating to the Port Authority of New York & New Jersey's (PANYNJ) pro forma $688.315 million, 207th series and $154.805 million, 208th series consolidated bonds. The outlook is stable. At the same time, S&P Global Ratings affirmed its '##-' rating, with a stable outlook, on the PANYNJ's existing consolidated bonds. "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 Joe Pezzimenti. The 207th series' bond proceeds will refund the authority's 151st and 152nd series and fund capital projects or refund other obligations. The 208th series' bond proceeds will refund the authority's 150th series and fund capital projects or refund other obligations. The authority is a critical transportation link in the New York State and New...

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