NEW YORK (Standard&Poor's) Oct. 20, 2011----Standard&Poor's Ratings Services has assigned its 'AA-' rating to the Port Authority of New York and New Jersey's (PANYNJ) $400 million consolidated bonds, 169th series. At the same time, Standard&Poor's affirmed its 'AA-' long-term and underlying ratings on PANYNJ's existing consolidated bonds and its 'A-1+' short-term rating on the authority's approximately $331 million in commercial paper (CP) notes. The outlook on the long-term ratings is stable. "In part, the ratings reflect our opinion that PANYNJ's financial performance and liquidity are strong, and that its operations are diverse," said Standard&Poor's credit analyst Joseph Pezzimenti. Bond proceeds will fund capital expenditures related to its airports and ports and refund
