S&P Global Ratings has assigned its 'AA-' rating to the Port Authority of New York&New Jersey's (PANYNJ) $236.4 million 199th series consolidated bonds. The outlook is stable. At the same time, S&P Global Ratings affirmed its 'AA-' rating, with a stable outlook, on the PANYNJ's existing consolidated bonds. The new bonds, which were directly purchased by Bank of America, N.A., will be on par with all other consolidated bonds. We expect officials to use the 199th bond proceeds to refund some consolidated bonds. S&P Global Ratings also 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 the authority's consolidated bonds. In addition, S&P
