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Article: Fitch Rts Port Authority New York & New Jersey Cons Bonds & Notes 'AA-'; Stable Outlook.
- Article from:
- Business Wire
- Article date:
- May 17, 2002
CopyrightCOPYRIGHT 2002 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
NEW YORK--(BUSINESS WIRE)--May 17, 2002
Fitch Ratings assigns a 'AA-' rating to The Port Authority of New York and New Jersey's $300 million consolidated bonds, 126th series (alternative minimum tax (AMT)). The Rating Outlook is Stable. The stable outlook reflects the improving trends at the airports, bridges and tunnels and maritime facilities and the continued World Trade Center (WTC) lease payments from the lessee and that its revenue-producing assets are intact for future cash flow. The bonds are expected to be sold competitively on May 22. Net revenues of the Port Authority facilities are pledged as security and interest is payable ...
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