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Summary: Camp Pendleton & Quantico Housing LLC, California; Military Housing Dec 11 Product Image

Summary: Camp Pendleton & Quantico Housing LLC, California; Military Housing Dec 11

  • Published: December 2011
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services affirmed its 'AA' underlying rating (SPUR) on Camp Pendleton & Quantico Housing LLC, Calif.'s military housing revenue bonds, series 2003A, 2004A, 2005A, 2006A, and 2007A. The outlook is negative. The rating reflects our view of: The strong debt service coverage (DSC) of 1.38x on the existing bonds based on audited fiscal 2011 financial data; The very strong quality of the assets supporting the bonds, including a revenue stream derived from the federally appropriated basic allowance for housing (BAH) and the high quality of the real estate collateral supporting the bonds; Solid construction progress, with phases I through V of the project completed and phases VI and VII on track to be finished on schedule; Stable...

Companies mentioned in this report are: Camp Pendleton & Quantico Hsg, LLC
Action: Affirmed
Action: Outlook: Negative

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Camp Pendleton & Quantico Hsg, LLC

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