...April 19, 2024 ENGLEWOOD (S&P Global Ratings) April 19, 2024--S&P Global Ratings assigned its '###' long-term rating to Denton County, Texas' proposed $106.5 million series 2024 permanent improvement bonds. At the same time, S&P Global Ratings affirmed its '###' long-term rating on the county's limited-tax debt outstanding. The outlook 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. The bond proceeds will be used to construct and improve roads. Denton County, north of Fort Worth, continues to experience rapid market value growth fueled by commercial and residential new construction. While there have been large commercial...
