Standard&Poor's Ratings Services has assigned its 'AA' rating to Denton County, Texas', GO refunding bonds, series 2004. In addition, Standard&Poor's has affirmed its 'AA' rating on the county's outstanding debt. The 'AA' rating reflects the county's: Location at the northern edge of the rapidly growing Dallas-Fort Worth MSA, with its diverse economic and employment base; Sustained rapid property-tax-base growth; Above-average income levels; and Continued sound financial performance. Mitigating credit factors include the county's: High overall per capita debt, and Significant capital needs, due to rapid development. The county's unlimited ad valorem taxing pledge secures the bonds. Denton County is located at the northern edge of the Dallas-Fort Worth Metroplex, and it has experienced rapid growth as
