S&P Global Ratings assigned its 'AA-' rating to Danville , Va.'s $8.97 million series 2025 general obligation (GO) public improvement bonds. At the same time, we affirmed our 'AA-' rating on the city's existing GO debt. The outlook is stable. Danville's unlimited full-faith-and-credit pledge secures the bonds and existing GO debt. Series 2025 bond proceeds will finance various capital projects, including streets and roadways, public buildings and parks and recreation facilities. The 'AA-' GO rating is supported by the strength of Danville's financial profile, including its healthy reserve position, along with our view of well-embedded financial management practices. Despite these financial strengths, its below-average wealth and income metrics are weaker when compared with state and national peers at the current
