Wharton, TX Debt Outlook Revised To Stable From Negative On Improved Financial Position - S&P Global Ratings’ Credit Research

Wharton, TX Debt Outlook Revised To Stable From Negative On Improved Financial Position

Wharton, TX Debt Outlook Revised To Stable From Negative On Improved Financial Position - S&P Global Ratings’ Credit Research
Wharton, TX Debt Outlook Revised To Stable From Negative On Improved Financial Position
Published May 24, 2022
2 pages (1182 words) — Published May 24, 2022
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Abstract:

CENTENNIAL (S&P Global Ratings) May 24, 2022--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," said S&P Global Ratings credit analyst Joyce Jung. Based on projected economic development, a large windfall of federal dollars for drainage and levee improvement projects, and stimulus funds related to the pandemic, we anticipate the city's available reserves will remain very strong in the near

  
Brief Excerpt:

...May 24, 2022 CENTENNIAL (S&P Global Ratings) May 24, 2022--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," said S&P Global Ratings credit analyst Joyce Jung. Based on projected economic development, a large windfall of federal dollars for drainage and levee improvement projects, and stimulus funds related to the pandemic, we anticipate the city's available reserves will remain very strong in the near term. While these new economic developments will require additional infrastructure buildout, officials indicate that they will not need to issue additional debt, as they plan to enter an...

  
Report Type:

Ratings Action

Issuer
Wharton
Sector
Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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MLA:
S&P Global Ratings’ Credit Research. "Wharton, TX Debt Outlook Revised To Stable From Negative On Improved Financial Position" May 24, 2022. Alacra Store. May 02, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Wharton-TX-Debt-Outlook-Revised-To-Stable-From-Negative-On-Improved-Financial-Position-2844018>
  
APA:
S&P Global Ratings’ Credit Research. (). Wharton, TX Debt Outlook Revised To Stable From Negative On Improved Financial Position May 24, 2022. New York, NY: Alacra Store. Retrieved May 02, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Wharton-TX-Debt-Outlook-Revised-To-Stable-From-Negative-On-Improved-Financial-Position-2844018>
  
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