Standard & Poor’s Wednesday revised the outlook to positive on A-minus-rated Sahara Mobile Home Park revenue bonds. The bonds were issued in 2002 using Palm Springs as a conduit.
“The positive outlook reflects the improving debt service coverage and strong occupancy at the project,” analyst Karen Fitzgerald said in a release. “If the property’s performance continues to strengthen, upward rating action is possible. However, increases in expenses without commensurate increases in revenues could impair the ability of the project to maintain the current debt service coverage ratio and may not warrant an upward rating action.”