Fort Huachuca-Yuma Proving Ground Arizona Communities LLC, Arizona; Military Housing Jul 10
Standard & Poors, July 2010
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
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
Fort Huachuca-YPG Arizona comntys LLC
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