Standard&Poor's Ratings Services assigned its 'AA-', 'A', and 'A-' standard long-term ratings to HP Communities LLC (HP), Colo.'s military housing revenue bonds series 2008A, 2008B, and 2008C, respectively. The bonds are being issued for the purpose of privatizing family military housing units at four air force bases (AFBs): Hanscom AFB, Little Rock AFB, Patrick AFB, and Moody AFB, formerly known as American Eagle Projects. The ratings reflect: The assets supporting the bonds, including a revenue stream derived from the federally-appropriated basic allowance for housing (BAH) and the conveyed assets of 3,618 existing units of family housing to be constructed or renovated; The project's financial capacity, as evidenced by strong projected net operating income sufficient to service debt at
