S&P Global Ratings assigned its 'AAA' long-term rating to Denton County, Texas' series 2016 tax notes. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating and underlying rating (SPUR) on the county's existing general obligation (GO) debt. The outlook is stable. The rating reflects our opinion of the following credit factors, specifically the county's: Very strong economy, with access to a broad and diverse metropolitan statistical area (MSA) and a local stabilizing institutional influence; Very strong management, with strong financial policies and practices under our Financial Management Assessment (FMA) methodology; Strong budgetary performance, with operating surpluses in the general fund and at the total governmental fund level in fiscal 2015; Very strong budgetary flexibility, with an available
