S&P Global Ratings has assigned its 'AA-' rating to Danville, Va.'s series 2022 ($129.0 million) general obligation (GO) public improvement bonds. At the same time, S&P Global Ratings affirmed its 'AA-' rating on the city's existing GO debt. The outlook is stable. Danville's faith-and-credit pledge, for the payment of bond principal and interest, secures the bonds. The 2022 bond proceeds will be used to finance capital improvement projects involving the renovation of and construction of additions to the city's public schools. Danville's credit ratings is supported by robust financial management practices that have facilitated a strong and stable financial profile. The city's debt metrics weakened due to this issuance, which is secured by its GO pledge, but it expects sales
