Standard&Poor's Ratings Services assigned its 'BBB+' rating, and stable outlook, to Wharton, Texas' series 2004 tax and revenue certificates of obligation. The rating reflects the city's: Property tax base, which is concentrated in plastics manufacturing; and Low wealth and income levels. Offsetting strengths include the city's: Strong financial position; and Low debt levels, coupled with minimal future capital needs. An ad valorem tax levied on all taxable property in the city and a limited pledge of a subordinate lien on the net revenues of the city's water and sewer system secure the certificates. Wharton, with a population of 9,237, is 55 miles southwest of Houston, Texas in Wharton County. The city's economy is centered on agriculture, plastics manufacturing,
