NEW YORK (Standard&Poor's) May 7, 2004--Standard&Poor's Ratings Services assigned its 'AA-' rating to the Port Authority of New York and New Jersey's (PANYNJ) $350 million consolidated revenue bonds, 136th series. The 'AA-' rating on all of the PANYNJ's outstanding consolidated notes and bonds is also affirmed. The outlook is stable. "The 'AA-' rating on the Port Authority's consolidated bonds reflects Standard&Poor's continuing view that the authority's financial profile has remained strong enough to support the existing ratings due to its diversity of operations, very strong liquidity, and critical position in the region, along with anticipated continued solid debt service coverage," said credit analyst Laura Macdonald. "Standard&Poor's concern is with the PANYNJ's large
