Fort Huachuca-Yuma Proving Ground Arizona Communities LLC Bond Rating Raised To 'A+' From 'A-' On Improved Coverage

SAN FRANCISCO (S&P Global Ratings) Nov. 7, 2024--S&P Global Ratings raised its long-term rating to 'A+' from 'A-' on Fort Huachuca-Yuma Proving Ground (YPG) Arizona Communities LLC's series 2009 military housing taxable revenue bonds. The outlook is stable. "The rating upgrade reflects our view of improved maximum annual debt service coverage levels, driven by material increases in basic allowance for housing rates," said S&P Global Ratings credit analyst Phillip Pena. The upgrade also reflects new information regarding the project's guaranteed investment contract (GIC) provider. "We received new information regarding the project's GIC provider, which is MassMutual. Previously we were provided information that listed GE Funding Capital Market Services as the GIC provider," Mr. Pena added. The stable outlook reflects S&P

...November 7, 2024 SAN FRANCISCO (S&P Global Ratings) Nov. 7, 2024--S&P Global Ratings raised its long-term rating to 'A+' from 'A-' on Fort Huachuca-Yuma Proving Ground (YPG) Arizona Communities LLC's series 2009 military housing taxable revenue bonds. The outlook is stable. "The rating upgrade reflects our view of improved maximum annual debt service coverage levels, driven by material increases in basic allowance for housing rates," said S&P Global Ratings credit analyst Phillip Pena. The upgrade also reflects new information regarding the project's guaranteed investment contract (GIC) provider. "We received new information regarding the project's GIC provider, which is MassMutual. Previously we were provided information that listed GE Funding Capital Market Services as the GIC provider," Mr. Pena added. The stable outlook reflects S&P Global Ratings' view that the project's good operating performance and market position, and essentiality of the bases supported by the project, will be...

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