Standard&Poor's Ratings Services assigned it's 'A' rating to Wharton, Texas' series 2010 tax general obligation (GO) and refunding bonds. At the same time Standard&Poor's affirmed its 'A' long-term and underlying rating (SPUR)on the city's existing debt. The outlook is stable. 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, although the level of liquidity is low; Adequate wealth and income levels; and Moderate level of overall net debt. An ad valorem tax levied on all taxable property within the city will secure the bonds. Bond proceeds will be used to refund a portion of existing GO debt for present
