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) $300 million consolidated bonds, 160th series. The bonds will accrue interest starting at their delivery, and are payable semiannually beginning March 15, 2010, and on each Sept. 15 and March 15 until maturing Sept. 15, 2039. These bonds are on parity with all other consolidated bonds and are secured by a pledge of net revenues, the general reserve fund, and the consolidated reserve fund. Standard&Poor's also affirmed its 'AA-' long-term and underlying ratings on the authority's existing consolidated bonds and its 'A+/A-1+' ratings on the authority's series 1, 3, 4, and 6 versatile
