Standard&Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to Denton County, Texas' series 2005 GO refunding bonds. Standard&Poor's also affirmed its 'AA' standard long-term rating and Standard&Poor's underlying rating (SPUR) on the county's GO debt outstanding. The ratings reflect the county's: Location at the northern edge of the rapidly growing Dallas-Fort Worth MSA, coupled 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, which is at the northern edge
