NEW YORK (S&P Global Ratings) Aug. 31, 2020--S&P Global Ratings revised the outlook to stable from negative on Fort Huachuca-Yuma Proving Ground (YPG) Arizona Communities LLC's series 2009 taxable military housing revenue bonds and affirmed its 'BBB+' rating on the debt. The ratings are no longer under credit observation. "The rating reflects our opinion of the project's strong occupancy rates, high military essentiality, strong strategy and management, and improving coverage," said S&P Global Ratings credit analyst Raymond Kim. Other factors include: Increases in basic allowance for housing (BAH) rates in 2019 and 2020; and Improving debt service coverage at the project in 2019, with similar coverage projected for 2020. The bonds funded a military housing privatization project with 1,269 residential
