Standard&Poor's Ratings Services raised its ratings on HP Communities LLC, Colo.'s military housing revenue bonds series 2008A, 2008B, and 2008C to 'AA' (sf) from 'AA-' (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: Strong debt service coverage (DSC) on the series 2008A, 2008B, and 2008C bonds, based on audited financial statements for the fiscal year ended Dec. 31, 2013; High essentiality of Little Rock Air Force Base (AFB), Patrick AFB, and Moody AFB, and moderate-to-high essentiality of Hanscom AFB; Increase in the average
