Standard&Poor's Ratings Services assigned it's 'A' long-term rating and stable outlook to Wharton, Texas' series 2009 tax and revenue certificates of obligation. At the same time, Standard&Poor's affirmed its 'A' long-term and underlying rating (SPUR) on the city's outstanding debt. The rating reflects the city's: Property tax base, which despite recent steady growth remains moderately concentrated in plastics manufacturing; Historically strong level of general fund reserves, tempered by a low level of liquidity; Adequate wealth and income levels; and Moderate level of overall net debt. 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
