Fitch on PANYNJ Debt and Commercial Paper

Fitch Ratings “has assigned a ‘AA-‘ rating to the Port Authority of New York and New Jersey’s . . . $432.8 million 197th series consolidated bonds and $350 million 198th series consolidated bonds.” Fitch also affirmed its ratings for the following existing authority debt:

  • $20.2 billion in outstanding consolidated bonds at ‘AA-‘;
  • Commercial paper obligations series A, B and C, each authorized up to $250 million at ‘F1+’; and
  • Subordinated special payment obligations with respect to the Goethals Bridge Replacement Project and Four World Trade Center at ‘A’.

“The Rating Outlook on all bonds and non-commercial paper obligations,” Fitch says, “is Stable.”