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