Summary: Port Authority Of New York&New Jersey; Appropriations; CP; Ports/Port Authorities

Standard&Poor's Ratings Services assigned its 'AA-' rating and stable outlook to Port Authority of New York&New Jersey's (PANYNJ) 191st series consolidated bonds and affirmed its 'AA-' rating, with a stable outlook, on PANYNJ's existing consolidated bonds. Standard&Poor's also affirmed its 'A-1+' short-term rating on the authority's commercial paper (CP) notes, as of May 1, 2015. In addition, Standard&Poor's affirmed its 'AA-' rating, with a stable outlook, on New York Liberty Development Corp.'s series 1WTC-2011 liberty revenue bonds, which are on par with all of PANYNJ's consolidated bonds. Finally, Standard&Poor's affirmed its 'A+' rating, with a stable outlook, on PANYNJ's series 2011 liberty revenue bonds, issued for the 4 World Trade

...Standard & Poor's Ratings Services assigned its '##-' rating and stable outlook to Port Authority of New York & New Jersey's (PANYNJ) 191st series consolidated bonds and affirmed its '##-' rating, with a stable outlook, on PANYNJ's existing consolidated bonds. Standard & Poor's also affirmed its 'A-1+' short-term rating on the authority's commercial paper (CP) notes, as of May 1, 2015. In addition, Standard & Poor's affirmed its '##-' rating, with a stable outlook, on New York Liberty Development Corp.'s series 1WTC-2011 liberty revenue bonds, which are on par with all of PANYNJ's consolidated bonds. Finally, Standard & Poor's affirmed its 'A+' rating, with a stable outlook, on PANYNJ's series 2011 liberty revenue bonds, issued for the 4 World Trade Center (WTC) LLC project, paid from the authority's consolidated bond reserve (CBR) fund. The 191st series consolidated bonds will be on par with all other consolidated bonds. We expect officials to allocate bond proceeds to PANYNJ's capital...

Summary