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) $425 million 164th series consolidated bonds and $425 million 165th series consolidated bonds. Interest on each maturity accrues on and after Nov. 1, 2010, until the bonds mature or are redeemed, and are payable semiannually beginning May 1, 2011, and on each Nov. 1 and May 1 until they mature Nov. 1, 2040, or are redeemed. These 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. Bond proceeds will be allocated to capital projects in connection with
