NEW YORK (Standard&Poor's) June 17, 2003--Standard&Poor's Ratings Services today assigned its 'AA-' rating to the Port Authority of New York and New Jersey's $500 million 131st series consolidated bonds, while affirming all outstanding consolidated notes and bonds issued by the Port Authority of New York and New Jersey. The rating reflects Standard&Poor's continuing view that the Port Authority of New York and New Jersey's financial profile has remained strong enough to support the existing rating due to its diversity of operations, very strong liquidity, and critical position in the region, along with anticipated continued solid debt service coverage for the current fiscal year. "The negative outlook is based on the slow recovery in air
