NEW YORK (Standard&Poor's) Nov. 24, 2011--Standard&Poor's Ratings Services has assigned its 'AA-' rating to the Port Authority of New York and New Jersey's (PANYNJ) $702 million consolidated bonds, 170th 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 $340 million in commercial paper notes. The outlook on the long-term ratings is stable. "The 'AA-' rating reflects our opinion of the diversity of PANYNJ's operations, the authority's very strong liquidity, its vital role in the region, and our expectation of continued solid debt service coverage," said Standard&Poor's credit analyst Joseph Pezzimenti. The 170th series bonds
