NEW YORK (Standard&Poor's) June 17, 2009--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) $150 million consolidated bonds, 157th series; $250 million consolidated bonds, 158th series; and $350 million consolidated bonds, 159th series. Standard&Poor's also affirmed its 'AA-' rating and underlying rating on the authority's existing consolidated bonds and its 'A-1+' rating on the authority's commercial paper notes. Standard&Poor's also affirmed its 'A+/A-1+' ratings on the authority's series 1, 3, 4, and 6 versatile structure obligations. The outlook on the long-term ratings is stable. "In our opinion, the 'AA-' rating reflects the diversity of the authority's operations, its
