Port Authority of New York&New Jersey's $390 Million 240th And 241st Series Consolidated Bonds Assigned 'AA-' Rating - S&P Global Ratings’ Credit Research

Port Authority of New York&New Jersey's $390 Million 240th And 241st Series Consolidated Bonds Assigned 'AA-' Rating

Port Authority of New York&New Jersey's $390 Million 240th And 241st Series Consolidated Bonds Assigned 'AA-' Rating - S&P Global Ratings’ Credit Research
Port Authority of New York&New Jersey's $390 Million 240th And 241st Series Consolidated Bonds Assigned 'AA-' Rating
Published Jun 15, 2023
2 pages (1071 words) — Published Jun 15, 2023
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About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) June 15, 2023--S&P Global Ratings assigned its 'AA-' rating to the Port Authority of New York&New Jersey's (PANYNJ) pro forma $200 million 240th and $190 million 241st series consolidated bonds. The outlook is stable. "The rating reflects our expectation that the PANYNJ's enterprise risk and financial risk profiles will remain extremely strong and strong, respectively," said S&P Global Ratings credit analyst Joseph Pezzimenti. "The extremely strong enterprise risk profile reflects the PANYNJ's vital role in the region and the diversity of the authority's operations, while we expect that the PANYNJ will adjust rates, charges, expenses, and capital spending to maintain financial metrics consistent with a strong financial risk profile," he added.

  
Brief Excerpt:

...June 15, 2023 NEW YORK (S&P Global Ratings) June 15, 2023--S&P Global Ratings assigned its '##-' rating to the Port Authority of New York & New Jersey's (PANYNJ) pro forma $200 million 240th and $190 million 241st series consolidated bonds. The outlook is stable. "The rating reflects our expectation that the PANYNJ's enterprise risk and financial risk profiles will remain extremely strong and strong, respectively," said S&P Global Ratings credit analyst Joseph Pezzimenti. "The extremely strong enterprise risk profile reflects the PANYNJ's vital role in the region and the diversity of the authority's operations, while we expect that the PANYNJ will adjust rates, charges, expenses, and capital spending to maintain financial metrics consistent with a strong financial risk profile," he added....

  
Report Type:

Ratings Action

Issuer
Port Authority of New York&New Jersey
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Port Authority of New York&New Jersey's $390 Million 240th And 241st Series Consolidated Bonds Assigned 'AA-' Rating" Jun 15, 2023. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Port-Authority-of-New-York-New-Jersey-s-390-Million-240th-And-241st-Series-Consolidated-Bonds-Assigned-AA-Rating-3002327>
  
APA:
S&P Global Ratings’ Credit Research. (). Port Authority of New York&New Jersey's $390 Million 240th And 241st Series Consolidated Bonds Assigned 'AA-' Rating Jun 15, 2023. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Port-Authority-of-New-York-New-Jersey-s-390-Million-240th-And-241st-Series-Consolidated-Bonds-Assigned-AA-Rating-3002327>
  
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