...March 23, 2023 NEW YORK (S&P Global Ratings) March 23, 2023--S&P Global Ratings assigned its '###' long-term rating to Denton County, Texas' proposed $131.7 million series 2023 permanent improvement and refunding bonds. At the same time, S&P Global Ratings affirmed its '###' long-term rating on the county's limited tax debt and affirmed its 'SP-1+' short-term rating on the county's series 2022A tax notes. The outlook, where applicable, is stable. The bonds constitute direct obligations of the county payable from an annual ad valorem tax levied against all taxable property in the county, within the limits prescribed by law. We do not differentiate between the county's limited-tax debt and its general creditworthiness since the ad valorem tax is not derived from a measurably narrower tax base and there are no limitations on the fungibility of resources. Bond proceeds will be used to construct and improve roads and purchase tendered bonds for debt service savings to the county. "The county...
