Standard&Poor's Ratings Services has assigned its 'AA-' rating to the Port Authority of New York and New Jersey's (PANYNJ or the authority) $100 million consolidated bonds, 156th series. The bonds will accrue interest on and after May 1, 2009, and are payable semiannually beginning Nov. 1, 2009, and on each May 1 and Nov. 1 thereafter until the bonds mature May 1, 2039. The bonds are on par with all other consolidated bonds and are secured by a pledge of net revenues, the general reserve fund, and the consolidated reserve fund. At the same time, Standard&Poor's affirmed its 'AA-' rating and underlying rating on the authority's existing consolidated bonds and consolidated notes, its 'A-1+' rating on
