Standard & Poor's Ratings Services said it raised its rating to AA-minus from A-plus on Aurora Military Housing III LLC, Alaska's military housing revenue bonds, series 2011A, issued for phase III of a privatized military housing project located at Joint Base Elmendorf-Richardson (JBER) in Anchorage.
The outlook is stable.
"The upgrade is based on strong debt service coverage and occupancy and the application of our revised multifamily housing bond criteria," said Standard & Poor's credit analyst Andrew Fong.
