Fitch rates Port Authority of N.Y. and N.J. bonds AA-

Fitch Ratings said it assigned an underlying AA- rating to the Port Authority of New York and New Jersey's $700 million of consolidated bonds, consisting of $350 million of series 150 and $350 million of series 151.

The bonds are expected to sell competitively on or about March 12, Fitch said.

Fitch also said it affirmed the AA- underlying rating on the authority's $9.3 billion of consolidated bonds; the A+ underlying rating on $506 million of versatile structure obligations, series 1 through 6; and the F1+ rating on the versatile structure obligations, series 1, 2, 3 and 5.

The outlook is stable.

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