Summary: Danville, Virginia; General Obligation; Moral Obligation; Note

S&P Global Ratings assigned its 'AA-' rating to Danville, Va.'s series 2016A and 2016B public improvement refunding bonds. At the same time, we affirmed the 'AA-' rating on the city's outstanding GO debt. The outlook is stable. We also affirmed the 'A-' rating on Danville-Pittsylvania Regional Industrial Facilities Authority'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 town's moral obligation pledges and reflects the 'AA-' GO rating on Danville. The GO bonds are secured by the city's full faith and credit pledge. Bond proceeds will be used to finance the costs of various capital improvements and refund certain outstanding bonds. The 'AA-' rating

...S&P Global Ratings assigned its '##-' rating to Danville, Va.'s series 2016A and 2016B public improvement refunding bonds. At the same time, we affirmed the '##-' rating on the city's outstanding GO debt. The outlook is stable. We also affirmed the 'A-' rating on Danville-Pittsylvania Regional Industrial Facilities Authority'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 town's moral obligation pledges and reflects the '##-' GO rating on Danville. The GO bonds are secured by the city's full faith and credit pledge. Bond proceeds will be used to finance the costs of various capital improvements and refund certain outstanding bonds. The '##-' rating further reflects our view of the following credit factors for the city:...

Summary