Standard&Poor's Ratings Services has assigned its 'AA' rating to Denton County, Texas' GO tax notes, 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, which is located at the northern edge of the Dallas-Fort Worth Metroplex, has experienced rapid growth as the
