Various Port Authority of New York&New Jersey Consolidated Bonds Assigned 'AA-' Rating

NEW YORK (Standard&Poor's) Oct. 6, 2015--Standard&Poor's Ratings Services has assigned its 'AA-' rating and stable outlook to the Port Authority of New York&New Jersey's (PANYNJ) $500 million 192nd series, $307 million 193rd series, and $1.2 billion 194th series consolidated bonds. The outlook is stable. At the same time, Standard&Poor's its ratings on the PANYNJ's existing debt. "The 'AA-' rating reflects our opinion of the diversity of PANYNJ's operations, very strong liquidity, and vital role in the region; and our expectation of continued strong debt service coverage," said Standard&Poor's credit analyst Joseph Pezzimenti. We expect officials to use the 192nd bond proceeds to fund capital expenditures, the 193rd bond proceeds for

...NEW YORK (Standard & Poor's) Oct. 6, 2015--Standard & Poor's Ratings Services has assigned its '##-' rating and stable outlook to the Port Authority of New York & New Jersey's (PANYNJ) $500 million 192nd series, $307 million 193rd series, and $1.2 billion 194th series consolidated bonds. The outlook is stable. At the same time, Standard & Poor's its ratings on the PANYNJ's existing debt. "The '##-' rating reflects our opinion of the diversity of PANYNJ's operations, very strong liquidity, and vital role in the region; and our expectation of continued strong debt service coverage," said Standard & Poor's credit analyst Joseph Pezzimenti. We expect officials to use the 192nd bond proceeds to fund capital expenditures, the 193rd bond proceeds for refunding purposes, and the 194th bond proceeds for refunding purposes and to fund $200 million of capital expenditures. The authority is a critical transportation link in the New York State and New Jersey region, operating the area's three major...

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