Standard&Poor's Ratings Services raised its underlying rating (SPUR) on Wharton, Texas' tax and revenue certificates of obligation two notches, to 'A' from 'BBB+', due to the city's consistently strong financial position and good financial management practices. The outlook is stable. The SPUR reflects the city's: Strong financial position; and Moderate debt levels, coupled with minimal additional capital needs. Offsetting strengths include the city's: Property tax base, which, despite recent steady growth, remains concentrated in plastics manufacturing; and Low wealth and income levels. An ad valorem tax levied on all taxable property within the city and a limited pledge of a subordinate lien on net revenues of the city's water and sewer system secure the certificates. Wharton, with a
