Summary: Fort Huachuca-Yuma Proving Ground Arizona Communities LLC, Arizona; Military Housing

Standard&Poor's Ratings Services affirmed its 'AA-' long-term rating on Fort Huachuca-Yuma Proving Ground Arizona Communities LLC's series 2009 taxable military housing revenue bonds. The outlook is stable. This is our first review of the rating on the bonds pursuant to our revised criteria, "Rating Methodology And Assumptions For Affordable Multifamily Housing Bonds," published June 19, 2014. The rating reflects our view of the following: The project's strong economic fundamentals and market dependencies, reflecting very strong demand drivers and an adequate local housing market; Very strong strategy and management bolstered by experienced ownership and property management teams and a joint venture partnership with the U.S. Department of Defense (DoD); A very high loss coverage level on the bonds, based

...Standard & Poor's Ratings Services affirmed its '##-' long-term rating on Fort Huachuca-Yuma Proving Ground Arizona Communities LLC's series 2009 taxable military housing revenue bonds. The outlook is stable. This is our first review of the rating on the bonds pursuant to our revised criteria, "Rating Methodology And Assumptions For Affordable Multifamily Housing Bonds," published June 19, 2014. The rating reflects our view of the following:...

Summary