S&P Global Ratings assigned its 'AAA' long-term rating to Denton County, Texas' series 2019 permanent improvement and refunding bonds. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating and underlying rating on the county's parity GO bonds and notes outstanding. The outlook is stable. The bonds are direct obligations of the county payable from revenue from an annual ad valorem tax levied against all taxable property in Denton County, within the limits prescribed by law. State statutes limit the maximum ad valorem tax rate for counties to 80 cents per $100 of TAV for all county purposes. Administratively, the Texas attorney general will permit the allocation of 40 cents of the maximum tax rate for ad valorem
