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 Jun 15, 2023
5 pages (2036 words) — Published Jun 15, 2023
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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) pro forma $200 million 240th and $190 million 241st series consolidated bonds. The outlook is stable. A net revenue pledge of authority operations secures the consolidated notes and bonds. In addition, bondholders benefit from the pledge of the general reserve fund (GRF) and the consolidated bond reserve (CBR), which had a combined balance of about $3.9 billion for the fiscal year ending Dec. 31, 2022 (audited), higher than that reported for fiscal years ending 2021 ($3.4 billion) and 2020 ($3.2 billion), and near that reported for fiscal years ending 2018 and 2019 ($4 billion). The PANYNJ series 240th and 241st consolidated bonds

  
Brief Excerpt:

...+ S&P Global Ratings assigned its '##-' rating to the Port Authority of New York & New Jersey's (PANYNJ) pro forma $200 million 240th and $190 million 241st series consolidated bonds. + The outlook is stable....

  
Report Type:

Summary

Issuer
Port Authority 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" Jun 15, 2023. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Port-Authority-of-New-York-New-Jersey-Ports-Port-Authorities-3002328>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Port Authority of New York&New Jersey; Ports/Port Authorities Jun 15, 2023. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Port-Authority-of-New-York-New-Jersey-Ports-Port-Authorities-3002328>
  
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