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Aurora Military Housing II LLC; Military Housing May 11
Standard & Poors, May 2011
Abstract
Standard & Poor's Ratings Services affirmed its 'AA+ (sf)' long-term and underlying (SPUR) ratings on Aurora Military Housing II LLC's class I military housing bonds and its 'AA- (sf)' long-term and SPUR ratings on the class II military housing bonds, issued for Phase II of privatized military housing at Elmendorf Air Force Base (AFB). The outlook is stable. The rating reflects our view the following strengths: High debt service coverage ratios (DSCRs) of 2.80x and 2.32x on the class I and II bonds, respectively, based on 2010 audited financial statements; The continued high essentiality of Elmendorf AFB, located in Anchorage, which is the largest Air Force installation in Alaska and the headquarters for the Alaskan Command; Very strong asset quality...
Companies mentioned in this report are: Aurora Military Hsg II, LLC
Action: Affirmed
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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