The rating on Denton County, Texas' debt reflects: * A growing and diversifying economic and tax base; * Strong financial management, despite growth pressures; and * Moderately high debt with limited future capital needs. Denton County (population 350,000) is in the northern part of the Dallas-Fort Worth Metroplex. Colleges and institutions in the county seat, Denton, have long been a stabilizing force for an economy that is diversifying in its southern half as the road network has expanded to open the county for new development. Residential building activity has shown strength particularly in Lewisville and Flower Mound. Commercial and industrial activity in the county also is improving, based on expanded development at Alliance Airport and Vista Ridge. Leading employers within
