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Leonard Wood Family Communities LLC; Military Housing Dec 11
Standard & Poors, December 2011
Standard & Poor's Ratings Services affirmed its 'AA- (sf)', 'A- (sf)', and 'BBB (sf)' long-term ratings on Leonard Wood Family Communities LLC, Mo.'s military housing revenue bonds series 2005 class I, II, and III, respectively. The outlook is stable. The affirmation reflects our opinion of the following strengths: Strong debt service coverage (DSC) of 1.89x for the class I bonds,1.51x for the class II, and 1.45x for the class III bonds based on 2010 audited financial data; Average growth of 8% across all pay grades in basic allowance for housing (BAH); Increase in effective gross income by 7% over pro forma numbers; High military essentiality of Fort Leonard Wood; High average occupancy of 95% based on occupancy rates relative to...
Companies mentioned in this report are: Leonard Wood Fam Comntys, LLC
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Leonard Wood Fam Comntys, LLC