Standard&Poor's Ratings Services assigned its 'AA-' rating, and stable outlook, to Williamson County, Texas' series 2006 unlimited-tax GO refunding bonds and series 2006A limited-tax GO refunding bonds. The rating reflects the county's: Sustained economic diversification and expansion, Successful management of growth-related pressures, and Consistently good financial management and strong performance. Constraining the rating from being raised is the county's: High, and still increasing, overall net debt levels; and Significant infrastructure needs to meet additional ongoing growth pressures. Ultimately, the county's full faith and credit pledge secures the bonds; but officials intend to use pass-through toll revenues received by the state's highway department to repay these bonds. Williamson County has experienced explosive population and property tax base growth over
