Scale Flex label text to fit available width

LabelUtil.as

	import flash.text.AntiAliasType;
	import flash.text.Font;
	import flash.text.GridFitType;
	import flash.text.TextLineMetrics;
	import mx.controls.Label;
	import mx.core.Application;
	import mx.core.UITextFormat;
	import mx.styles.CSSStyleDeclaration;
	import mx.styles.StyleManager;
	
	public class LabelUtil {
		
		public function LabelUtil() {}
		
		static public function constrainTextToWidth(label:Label, htmlText:String):void {
			
			var  style:CSSStyleDeclaration = StyleManager.getStyleDeclaration("." + label.styleName);
			var fontSize:Number = style.getStyle("fontSize") as Number;
			label.setStyle("fontSize", fontSize);
			label.htmlText = htmlText;
			label.invalidateSize();
			label.validateNow();
			
			while (getTextWidth(label.text, fontSize, style) > label.width) {
				fontSize = fontSize - 0.5;
				label.setStyle( "fontSize", fontSize );
			}
			
		}
		
		static public function getTextWidth(text:String,fontSize:Number,style:CSSStyleDeclaration):Number {
			
			var textFormat:UITextFormat = new UITextFormat(
				Application.application.systemManager,
				style.getStyle("fontFamily"),
				fontSize,
				null,
				style.getStyle("fontWeight") == "bold",
				style.getStyle("fontStyle") == "italic",
				null,
				null,
				null,
				null,
				style.getStyle("paddingLeft"),
				style.getStyle("paddingRight"),
				style.getStyle("textIndent")
			);
			
			textFormat.antiAliasType = flash.text.AntiAliasType.ADVANCED;
			textFormat.gridFitType = flash.text.GridFitType.PIXEL;
			var textMetrics : TextLineMetrics = textFormat.measureText(text);
			return textMetrics.width;
			
		}
	}

Grabbed from http://blog.grio.com/2009/10/wrangling-flex-labels-autosizing-text.html