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 Nov 26, 2019
4 pages (1754 words) — Published Nov 26, 2019
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About This Report

  
Abstract:

S&P Global Ratings assigned its 'AA-' rating to the Port Authority of New York&New Jersey's (PANYNJ) 219th and 220th 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 219th and 220th series' bond proceeds will fund capital projects in connection with facilities of the PANYNJ or refund other obligations. The authority will issue the 217th and 218th series consolidated bonds the same time it issues the 219th and 220th series. For more information regarding the 217th-218th series, see the report published Nov. 15, 2019, on RatingsDirect. Following these transactions, the PANYNJ will have approximately $22.3 billion of

  
Brief Excerpt:

...S&P Global Ratings assigned its '##-' rating to the Port Authority of New York & New Jersey's (PANYNJ) 219th and 220th 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 219th and 220th series' bond proceeds will fund capital projects in connection with facilities of the PANYNJ or refund other obligations. The authority will issue the 217th and 218th series consolidated bonds the same time it issues the 219th and 220th series. For more information regarding the 217th-218th series, see the report published Nov. 15, 2019, on RatingsDirect. Following these transactions, the PANYNJ will have approximately $22.3 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...

  
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" Nov 26, 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-2348232>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Port Authority of New York&New Jersey; Ports/Port Authorities Nov 26, 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-2348232>
  
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