S&P Global Ratings affirmed its 'AA (sf)', 'A+ (sf)', and 'A (sf)' ratings on HP Communities LLC, Colo.'s military housing revenue bonds, series 2008A, 2008B, and 2008C, respectively. The outlook is stable. The ratings reflect our view of: Strong financial performance, evidenced by robust debt service coverage (DSC) of 1.85x, 1.51x, and 1.50x on the series 2008A, 2008B, and 2008C bonds, respectively, based on audited financial statements for the fiscal year ended Dec. 31, 2016 and the three-year average DSC of 1.82x, 1.49x and 1.47x for each class, respectively, as of the same date; The project's strong economic fundamentals and market dependencies, reflecting a strong local housing market and adequate demand drivers; The high essentiality of Little Rock Air Force
