S&P Global Ratings has assigned its 'AA-' rating to Danville, Va.'s series 2022 ($15.765 million) general obligation (GO) public improvement bonds. The outlook is stable. Danville's full faith-and-credit pledge, for the payment of bond principal and interest, secures the bonds. The 2022 bond proceeds will be used to finance a number of capital improvement projects including public schools routine capital projects, airport public facility improvements, a water distribution/treatment infrastructure project, and an electric distribution infrastructure project. Danville's credit ratings is supported by robust financial management practices that have facilitated a strong and stable financial profile, with expected fiscal 2022 results to continue the positive operational trend. We view the city's debt profile as weak primarily due to a $127 million
