S&P Global Ratings assigned its 'AAA' rating to Denton County , Texas' proposed $52.5 million series 2025 permanent improvement refunding bonds and $41.95 million series 2025 tax notes. The outlook is stable. The ratings are based on the application of our ? Methodology For Rating U.S. Governments ," Sept. 9, 2024 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 Denton County's limited-tax debt and the county?s 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. Proceeds from
