S&P Global Ratings assigned its'AA-'rating to the City of Danville , Virginia's $10.1 million series 2026 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 2026 bond proceeds will finance various capital projects. The'AA-'GO rating is supported by the strength of Danville's financial profile, including the city’s healthy reserve position, along with our view of well-embedded financial management practices. Despite these financial strengths, Danville’s below-average wealth and income metrics are weaker than those of state and national peers at the current rating level. Officials are working to transform
