Resilient N.Y., N.J. Port Authority Selling $500 Million

Braun, Martin Z.
June 2003
Bond Buyer;6/16/2003, Vol. 344 Issue 31657, p3
Trade Publication
The Port Authority of New York and New Jersey will competitively sell $500 million of debt on June 25, 2003, amid continued uncertainty in the airline industry, a weak regional economy and questions surrounding the rebuilding of the World Trade Center, New York City. But despite the credit concerns, rating agencies said the authority's airports, bridges, tunnels and seaports provide consistent revenues to support the debt. Analysts said they would continue to watch how much the authority receives in insurance reimbursements resulting from the September 11, 2001, terrorist attacks, the pace of recovery in traffic volume and on-going discussions with New York City for extending ground leases at LaGuardia Airport.


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