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S&P upgrades Petersburg’s bond rating to AA-, reflecting financial resurgence • Virginia Mercury

Summary by Virginia Mercury
Petersburg's City Hall, October 2023. (Wyatt Gordon/The Virginia Mercury)S&P Global Ratings has upgraded the city of Petersburg’s general obligation (GO) bond rating to AA- from A+, a move that highlights the city’s strengthened financial health and steady progress toward fiscal stability. The upgrade underscores Petersburg’s success in building reserves, improving liquidity, and achieving a secure financial position after years of turmoil. Pete…
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