Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Williamson County, Texas' series 2012 limited-tax refunding bonds. At the same time, Standard&Poor's affirmed its 'AAA' long-term rating and underlying rating (SPUR) on the county's general obligation (GO) debt outstanding. 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, Texas MSA, coupled with very strong income levels; Successful management of growth-related pressures; Consistently strong financial management and very strong financial performance; and Relatively low level of funding interdependencies with the federal government. Officials will use the limited-tax refunding bond proceeds to refund a portion of the county's outstanding GO obligations to
