...SAN FRANCISCO (Standard & Poor's) Nov. 20, 2014--Standard & Poor's Ratings Services raised its ratings on HP Communities LLC, Colo.'s military housing revenue bonds series 2008A, 2008B, and 2008C to '##' (sf) from '##-' (sf), to 'A+' (sf) from 'A' (sf), and to 'A' (sf) from 'A-' (sf), respectively. The outlooks for all ratings are stable. "The ratings reflect the application of our affordable multifamily housing criteria released June 19, 2014, and, more specifically, our view of the bonds'strong debt service coverage; the high essentiality of Little Rock Air Force Base (AFB), Patrick AFB, and Moody AFB, and moderate-to-high essentiality of Hanscom AFB; the increase in the average basic allowance for housing rates across all four bases; and strong demand for units at the bases," said Standard & Poor's credit analyst Lawrence Witte. The stable outlooks reflect our view of the project's strong operating performance as indicated by high coverage on the bonds, the strength of the revenue stream...
