Standard&Poor's Ratings Services assigned its 'AA-' rating to the Port Authority of New York and New Jersey's (PANYNJ) $400 million consolidated bonds, 135th series. It also affirmed the ratings on all outstanding consolidated notes and bonds issued by the PANYNJ. The outlook is stable. The action reflects 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. More specifically, the rating reflects the following strengths: The Port Authority's role as a critical transportation link in the New York and New Jersey area, operating the three major
