Standard&Poor's Ratings Services has assigned its 'AA-' rating to the Port Authority of New York and New Jersey's (PANYNJ) $702 million consolidated bonds, 170th series. At the same time, Standard&Poor's affirmed its 'AA-' long-term and underlying ratings on PANYNJ's existing consolidated bonds and its 'A-1+' short-term rating on the authority's approximately $340 million in commercial paper (CP) notes. The outlook on the long-term ratings is stable. Until the bonds mature Dec. 14, 2051, or are redeemed, they will be payable on June 14 and Dec. 14 of each year, commencing in 2012. These issues are on par with all other consolidated bonds and are secured by a pledge of net revenues, the general reserve fund, and
