NEW YORK (Standard&Poor's) March 22, 2011--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) $225 million consolidated bonds, 167th series. These issues are on par with all other consolidated bonds and are secured by a pledge of net revenues, the general reserve fund, and the consolidated reserve fund. At the same time, Standard&Poor's 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). Standard&Poor's also affirmed its 'A+' rating on the series 1 VSO and our 'A-1+' short-term rating on PANYNJ's approximately $357
