S&P Global Ratings affirmed its 'A-' rating on Danville-Pittsylvania Regional Industrial Facilities Authority, Va.'s revenue bonds outstanding, secured by Danville and Pittsylvania County's moral obligation pledge. The outlook is stable. The rating is based on the weaker of the city and county's moral obligation pledges and reflects the 'AA-' GO rating on Danville. The debt service reserve is funded at $2 million, which is sufficient to cover maximum annual debt service. The GO rating reflects our view of the following credit factors for Danville: Weak economy, with projected per capita effective buying income at 76.2% of the national level and market value per capita of $64,063; Strong management, with good financial policies and practices under our Financial Management Assessment (FMA)
