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Summary: Fort Carson Family Housing LLC, Colorado; Military Housing Dec 10

  • ID: 1856898
  • December 2010
  • Region: Colorado
  • Standard & Poors
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  • Fort Carson Fam Hsg LLC
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Abstract
Standard & Poor's Ratings Services affirmed its 'AA+' underlying rating (SPUR) on Fort Carson Family Housing LLC, Colo.'s military housing revenue bonds, series 1999. The rating reflects our view of the following credit strengths: The high military essentiality of Fort Carson; Stable debt service coverage (DSC) of 2.01x for the fiscal year ended Dec. 31, 2009; Strong occupancy of 96% at the project as of August 2010; A 7% increase in the area's average basic allowance for housing (BAH) in 2010; Completed construction at the project; and A U.S. Department of Defense (DoD) full-faith and credit base closure guaranty. The bonds are secured by a first mortgage lien on this privatized military housing transaction, representing improvements in 15 housing areas...

Companies mentioned in this report are: Fort Carson Fam Hsg LLC
Action: Affirmed
Action: Outlook: Stable

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 READ MORE >

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Fort Carson Fam Hsg LLC

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