...S&P Global Ratings revised its outlook to stable from negative and affirmed its 'A+' underlying rating (SPUR) on Wharton, Texas' outstanding general obligation (GO) bonds and certificates of obligation. The outlook revision reflects S&P Global Ratings' opinion of the city's improved cash and reserve position, stemming from a material reduction in receivables from water sewer fund, along with surpluses in the operating fund in fiscal years 2020 and 2021. In an effort to improve its account receivables, the city has implemented a rate increase on the water sewer fund with annual commitment to pay down at least $50,000 a year, for the backlog of unpaid administrative shared services. Additionally, the outlook revision reflects stability in the district's budgetary performance and healthy available reserves. Wharton's GO bonds and certificates of obligation constitute direct obligations of the city, payable from the proceeds of a continuing, direct annual ad valorem tax, within the limits prescribed...
