NEW YORK (Standard&Poor's) Oct. 13, 2006--Standard&Poor's Ratings Services assigned its 'AA-' long-term rating to the Port Authority of New York and New Jersey's (PANYNJ, or the Port Authority) $300 million consolidated bonds series 144. At the same time, Standard&Poor's affirmed its 'AA-' long-term rating on the Port Authority's $8.4 billion of consolidated bonds, its 'SP-1+' short-term rating on the PANYNJ's $350 million consolidated notes, and its 'A-1+' short-term rating on PANYNJ's $265 million in CP notes. Standard&Poor's also affirmed its 'A+/A-1+' rating on the Port Authority's $527 million versatile structure obligations (VSO) series 1-6. The short-term component is based on the ratings of the respective liquidity banks providing liquidity to each series.
