HP Communities LLC, Delaware; Military Housing

S&P Global Ratings raised its ratings on HP Communities LLC, Del.'s series 2008B military housing revenue bonds, issued for HP Communities LLC to 'AA- (sf)' from 'A+ (sf)' and on the 2008C military housing revenue bonds to 'A+ (sf)' from 'A (sf)'. At the same time we affirmed our 'AA' rating on the 2008A bonds. The outlook is stable. The rating actions reflect the implementation of our criteria, titled "Methodology For Rating U.S. Public Finance Rental Housing Bonds," published April 15, 2020. HP Communities LLC--a single-purpose entity whose members include an affiliate of the Hunt companies --issued the series 2008A, B, and C bonds to finance the acquisition, rehabilitation, and development of four military housing developments located at four Air

...S&P Global Ratings raised its ratings on HP Communities LLC, Del.'s series 2008B military housing revenue bonds, issued for HP Communities LLC to '##- (sf)' from 'A+ (sf)' and on the 2008C military housing revenue bonds to 'A+ (sf)' from 'A (sf)'. At the same time we affirmed our '##' rating on the 2008A bonds. The outlook is stable. The rating actions reflect the implementation of our criteria, titled "Methodology For Rating U.S. Public Finance Rental Housing Bonds," published April 15, 2020. HP Communities LLC--a single-purpose entity whose members include an affiliate of the Hunt companies --issued the series 2008A, B, and C bonds to finance the acquisition, rehabilitation, and development of four military housing developments located at four Air Force Bases: Hancom AFB, Moody AFB, Little Rock AFB, and Patrick AFB. Collectively the development is known as the "Falcon Group". Unit tenants pay rent based on the Department of Defense's (DoD) basic allowance for housing (BAH) in their respective...

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