NEW YORK (Standard&Poor's) Sept. 23, 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) $1 billion consolidated bonds, 168th 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 $321 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, and its vital role in the region; and our expectation of continued strong debt service coverage," said Standard&Poor's credit analyst Joseph Pezzimenti. Bond proceeds will fund
