Three New York issuers yesterday announced different plans to take securities out of the auction-rate market.

The Port Authority of New York and New Jersey, which saw one of its series of auction-rate securities reset at 20% last week when the auction failed to attract enough buyers, plans to get out of the auction rate market altogether while the New York City Municipal Water Finance Authority plans to convert most of its $1.02 billion of auction-rate securities to variable-rate demand bonds next month and take a wait and see approach to the remainder.

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