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Summary: Fort Carson Family Housing LLC; Military Housing Dec 11

  • ID: 2030653
  • December 2011
  • Standard & Poors
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  • Fort Carson Fam Hsg LLC
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Standard & Poor's Ratings Services affirmed its 'AA+ (sf)' underlying rating (SPUR) on Fort Carson Family Housing LLC, Colo.'s class I military housing revenue bonds series 1999. The outlook is stable. The rating reflects our view of the following: Strong debt service coverage ratio of 2.23x on the class I bonds based on 2010 financial data; High military essentiality of the bases served by the project; Very strong asset quality, consisting of a federally appropriated revenue stream, strong and sustained demand for the privatized housing, and the high quality of the real estate collateral supporting the bonds; Strong occupancy of 97% as of Sept. 2011; and An average increase of 5% in Colorado Springs' basic allowance for housing for all...

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 for new and existing READ MORE >

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Fort Carson Fam Hsg LLC

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