NEW YORK (Standard&Poor's) July 16, 2010--Standard&Poor's Ratings Services has assigned its 'AA-' long-term rating to the Port Authority of New York and New Jersey's (PANYNJ or the authority) $400 million consolidated bonds, 163rd series. Standard&Poor's also affirmed its 'AA-' long-term and underlying ratings on PANYNJ's existing consolidated bonds and its 'A+/A-1+' ratings on the authority's series 4 versatile structure obligations (VSO). We also affirmed our 'A+' rating on the series 1 VSO and our 'A-1+' short-term rating on PANYNJ's $386.9 million in CP notes. The outlook on the long-term ratings is stable. "The 'AA-' rating reflects our opinion of the diversity of PANYNJ's operations, its very strong liquidity for the ratings, its vital role
