Standard&Poor's Ratings Services has assigned its 'AA-' long-term rating to the Port Authority of New York and New Jersey's (PANYNJ or the authority) $150 million consolidated bonds, 157th series; $250 million consolidated bonds, 158th series; and $350 million consolidated bonds, 159th series. The bonds will accrue interest starting at their delivery, and are payable semiannually beginning Dec. 1, 2009, and on each June 1 and Dec. 1 until maturing Dec. 1, 2019 (for the 157th series); Dec. 1, 2024 (for the 158th series); and Dec. 1, 2029 (for the 159th series). These taxable 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
