Standard&Poor's Ratings Services assigned its 'SP-1+' rating to the Port Authority of New York and New Jersey's (PANYNJ) $250 million consolidated notes, series V V, due Dec. 15, 2003, and its 'AA-' rating to the PANYNJ's $84 million 130th series consolidated bonds. Standard&Poor's also affirmed its ratings on all outstanding consolidated notes and bonds issued by the PANYNJ. The ratings reflect Standard&Poor's continuing view that the PANYNJ's financial profile has remained strong enough to support the existing ratings due to its diversity of operations, very strong liquidity, and critical position in the region, along with anticipated continued solid debt service coverage for the current fiscal year. More specifically, the rating reflects the following strengths:
