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

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

Summary: Port Authority of New York&New Jersey; Ports/Port Authorities - S&P Global Ratings’ Credit Research
Summary: Port Authority of New York&New Jersey; Ports/Port Authorities
Published Aug 09, 2019
4 pages (1701 words) — Published Aug 09, 2019
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Abstract:

S&P Global Ratings has assigned its 'AA-' rating to the Port Authority of New York&New Jersey's (PANYNJ) 216th series consolidated bonds, using its "U.S. And Canadian Not-For-Profit Transportation Infrastructure Enterprises" criteria. The outlook is stable. The new bonds will be on par with PANYNJ's other consolidated bonds. The 216th series' bond proceeds will be allocated to fund capital projects. The authority will issue the 212th-215th series consolidated bonds the same time it issues the 216th series. For more information regarding the 212th-215th series, see the report published Aug. 5, 2019, on RatingsDirect. Following these transactions, the PANYNJ will have approximately $22.15 billion of consolidated bonds outstanding. The 'AA-' rating reflects our opinion of the authority's extremely strong enterprise

  
Brief Excerpt:

...S&P Global Ratings has assigned its '##-' rating to the Port Authority of New York & New Jersey's (PANYNJ) 216th series consolidated bonds, using its "U.S. And Canadian Not-For-Profit Transportation Infrastructure Enterprises" criteria. The outlook is stable. The new bonds will be on par with PANYNJ's other consolidated bonds. The 216th series' bond proceeds will be allocated to fund capital projects. The authority will issue the 212th-215th series consolidated bonds the same time it issues the 216th series. For more information regarding the 212th-215th series, see the report published Aug. 5, 2019, on RatingsDirect. Following these transactions, the PANYNJ will have approximately $22.15 billion of consolidated bonds outstanding. The '##-' rating reflects our opinion of the authority's extremely strong enterprise risk profile and strong financial risk profile. The extremely strong enterprise risk profile reflects the PANYNJ's vital role in the region and the diversity of the authority's...

  
Report Type:

Summary

Issuer
Port Auth of New York&New Jersey
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Port Authority of New York&New Jersey; Ports/Port Authorities" Aug 09, 2019. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Port-Authority-of-New-York-New-Jersey-Ports-Port-Authorities-2280441>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Port Authority of New York&New Jersey; Ports/Port Authorities Aug 09, 2019. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Port-Authority-of-New-York-New-Jersey-Ports-Port-Authorities-2280441>
  
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