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Fort Huachuca-Yuma Proving Ground Arizona Communities LLC, Arizona; Military Housing Jul 10 Product Image

Fort Huachuca-Yuma Proving Ground Arizona Communities LLC, Arizona; Military Housing Jul 10

  • ID: 2025966
  • July 2010
  • Region: Arizona
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services affirmed its 'AA-' rating on Fort Huachuca-Yuma Proving Ground Arizona Communities LLC, Ariz.'s taxable military housing revenue bonds, series 2009. The rating reflects our view of the following strengths: The project's very strong asset quality, including a federally appropriated revenue stream, high and stable occupancy, continued demand for the privatized units despite ongoing deployment of troops, and above-average real estate quality; The project's financial strength as demonstrated by debt service coverage (DSC) of 1.42x, based on 2009 financial data; The high military essentiality of both Fort Huachuca and Yuma Proving Ground (YPG); and Satisfactory construction progress to date. The preceding credit strengths are offset in part by higher-than-expected expenses in maintenance, payroll, and utilities. Fort...

Companies mentioned in this report are: Fort Huachuca-YPG Arizona comntys LLC
Action: Affirmed

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Research Type: Full Analysis

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