Summary: Port Authority of New York&New Jersey; Appropriations; Ports/Port Authorities; Transit - S&P Global Ratings’ Credit Research

Summary: Port Authority of New York&New Jersey; Appropriations; Ports/Port Authorities; Transit

Summary: Port Authority of New York&New Jersey; Appropriations; Ports/Port Authorities; Transit - S&P Global Ratings’ Credit Research
Summary: Port Authority of New York&New Jersey; Appropriations; Ports/Port Authorities; Transit
Published Apr 25, 2024
10 pages (3702 words) — Published Apr 25, 2024
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings assigned its 'AA-' rating to the Port Authority of New York&New Jersey's (PANYNJ) pro forma $650 million 244th series consolidated bonds. We also affirmed our 'AA-' long-term rating and underlying rating (SPUR) on PANYNJ's consolidated bonds outstanding. In addition, we affirmed our 'AA-' long-term rating on New York Liberty Development Corp.'s series 1WTC-2021 liberty revenue bonds, and our 'AA-' long-term rating on Newark Housing Authority, N.J.'s series 2017 Port Authority-Port Newark Marine Terminal additional rent-backed refunding bonds. Finally, we affirmed our 'A+' long-term rating and SPUR on PANYNJ's series 2021A and 2021B liberty revenue bonds based on the weakest link between New York City and the PANYNJ.. The outlook is stable. A net revenue pledge

  
Brief Excerpt:

...+ S&P Global Ratings assigned its '##-' rating to the Port Authority of New York & New Jersey's (PANYNJ) pro forma $650 million 244th series consolidated bonds. + We also affirmed our '##-' long-term rating and underlying rating (SPUR) on PANYNJ's consolidated bonds outstanding. + In addition, we affirmed our '##-' long-term rating on New York Liberty Development Corp.'s series 1WTC-2021 liberty revenue bonds, and our '##-' long-term rating on Newark Housing Authority, N.J.'s series 2017 Port Authority-Port Newark Marine Terminal additional rent-backed refunding bonds. + Finally, we affirmed our 'A+' long-term rating and SPUR on PANYNJ's series 2021A and 2021B liberty revenue bonds based on the weakest link between New York City and the PANYNJ.. + The outlook is stable....

  
Report Type:

Summary

Issuer
Port Authority of New York&New Jersey
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: Port Authority of New York&New Jersey; Appropriations; Ports/Port Authorities; Transit" Apr 25, 2024. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Port-Authority-of-New-York-New-Jersey-Appropriations-Ports-Port-Authorities-Transit-3158692>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Port Authority of New York&New Jersey; Appropriations; Ports/Port Authorities; Transit Apr 25, 2024. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Port-Authority-of-New-York-New-Jersey-Appropriations-Ports-Port-Authorities-Transit-3158692>
  
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