Summary: Denton County, Texas; General Obligation

S&P Global Ratings assigned its 'AAA' long-term rating to Denton County, Texas' proposed $106.5 million series 2024 permanent improvement bonds. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on the county's limited tax debt outstanding. The outlook is stable. The bonds constitute direct obligations of the county payable from an annual ad valorem tax levied against all taxable property in the county, within the limits prescribed by law. We do not differentiate between the county's limited-tax debt and its general creditworthiness since the ad valorem tax is not derived from a measurably narrower tax base and there are no limitations on the fungibility of resources. The bond proceeds will be used to construct and improve roads.

...Most recent Historical information 2023 2022 2021 Very strong economy Projected per capita EBI % of U.S. 125.2 Market value per capita ($) 186,251 Population 951,447 915,999 County unemployment rate(%) 3.2 Market value ($000) 177,207,954 149,854,373 124,773,869 Ten largest taxpayers % of taxable value 1.7 Strong budgetary performance Operating fund result % of expenditures 5.7 -0.7 2.4 Total governmental fund result % of expenditures 18.9 13.0 17.3 Very strong budgetary flexibility Available reserves % of operating expenditures 41.3 36.5 38.7 Total available reserves ($000) 99,031 82,651 83,998 Very strong liquidity Total government cash % of governmental fund expenditures 124.1 127.6 71.2 Total government cash % of governmental fund debt service 625.6 702.4 369.8 Strong management Financial Management Assessment Good Very weak debt and long-term liabilities Debt service % of governmental fund expenditures 19.8 18.2 19.3 Net direct debt % of governmental fund revenue 162.4 Overall net debt...

Summary