Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Williamson County, Texas' series 2011 unlimited-tax road bonds. At the same time, Standard&Poor's affirmed its 'AAA' long-term rating and underlying rating (SPUR) on the county's parity debt. The outlook on all ratings is stable. The ratings reflect our view of the county's: Deep and diverse tax base, with access to the Austin metropolitan statistical area (MSA); Successful management of growth-related pressures; and Consistently strong financial management and performance. Factors offsetting the above credit strengths include our view of Williamson County's: High overall net debt levels, and Additional infrastructure needs (mainly roads) to meet ongoing growth pressures. The bonds are secured by the levy and collection of a
