Virginia
S&P upgrades Petersburg’s bond rating to AA-, reflecting financial resurgence • 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.
Petersburg’s GO bonds are backed by the city’s full faith and credit pledge, affirming its reliability to meet debt obligations. The proceeds from the city’s 2024 GO bond issuance are set to fund several critical projects, including a new courthouse facility, the renovation of a police station, the construction of an animal care center and $1.3 million to refinance older bonds for net savings.
City Manager March Altman said in a statement that the upgraded bond rating reflects continued growth and economic recovery.
“Petersburg has a fund balance of approximately $50 million, which gives it the flexibility to move forward with needed capital projects,” Altman said. “I commend the city council and Petersburg’s Department of Finance for making decisions based on sound fiscal management and best practices.”
The enhanced credit rating not only reflects Petersburg’s financial stability but also unlocks key advantages, including lower interest rates, greater borrowing capacity for vital projects, expanded economic development opportunities, and increased appeal to potential investors.
It further signals to investors that the city’s creditworthiness has improved, potentially reducing borrowing costs for future projects. It also highlights the city’s steady recovery from a financial crisis that left it on the brink of insolvency less than a decade ago.
Petersburg’s financial woes reached a breaking point in 2016, when the city faced a staggering $7.7 million deficit, unpaid bills piling up to $18 million, and critical services at risk of interruption. Poor fiscal oversight, structural deficits and mismanagement led to the crisis, which garnered statewide attention. At the time, the city teetered on the verge of state intervention.
To address the dire situation, Petersburg implemented aggressive reforms, including staff reductions, tighter spending controls and measures to increase revenue. The city also partnered with outside financial advisors to help restore fiscal discipline.
By 2019, Petersburg reported a budget surplus for the first time in years and began rebuilding its financial reserves. The turnaround has since been bolstered by sustained economic growth, improved tax collection efforts, and successful community partnerships.
Mayor Sam Parham said that the city’s goal is to achieve a firm AAA rating.
“With the growth of the Pharmaceutical Campus, the recent approval of the Destination Resort Casino, and the many other economic development and tourism projects, the city is positioned to continue to grow its tax base and fund balance while addressing much-needed capital projects,” Parham said.
YOU MAKE OUR WORK POSSIBLE.
Virginia
Virginia lawmakers criticize anti-redistricting mailer with Jim Crow-era images – WTOP News
The flyers encourage people to vote against the redistricting effort and feature pictures of the Ku Klux Klan and from the Civil Rights Movement.
Virginia Attorney General Jay Jones condemned flyers with Jim Crow-era images discouraging voters from supporting redistricting in the state.
The mailers, which Jones told WTOP he first learned about last weekend, featured pictures of the Ku Klux Klan and from the Civil Rights Movement. One such mailer said, “Our ancestors fought to represent us. Now Richmond politicians are trying to take our districts away.”
The flyers encourage people to vote against the redistricting effort.
A group, Justice for Democracy, has been sending out mailers and texts with some clear dog whistles, using varying disclaimers in Virginia (“Democracy and Justice PAC” and “Justice for Democracy PAC”).
Its treasurer is listed as Christopher Woodfin and its address is the same … pic.twitter.com/JvetyKGnbw
— Matt Royer (@royermattw) March 7, 2026
Early voting is underway, as Democrats in the state push for changes to congressional districts that are expected to give them more of an advantage in Congress. They said it’s in response to President Donald Trump encouraging redistricting in Republican-led states such as Texas. Republicans, though, have been critical.
In an interview with WTOP, Jones, Virginia’s first Black attorney general, said the mailers are disturbing, shocking, offensive and deceptive.
“It’s very clear a MAGA-linked group that opposes the referendum is sending these mailers to Black voters, and they’re misusing very, very hurtful imagery from the Civil Rights Movement, even invoking Jim Crow, to weaponize one of the darkest chapters in our history, to scare people into voting no and help Republicans maintain a rigged map for 2026 so they can keep control of Congress,” Jones said.
In a statement, the NAACP Virginia State Conference said the flyers falsely compare redistricting to Jim Crow.
“While the NAACP is nonpartisan, we are deeply engaged in political advocacy to safeguard our communities,” said Rev. Cozy Bailey, president of NAACP Virginia.
The purpose of the mailers, Jones said, is to “suppress the vote. It’s to make sure that people don’t go make their voices heard during this election.”
The flyers said they’re paid for by a group called Democracy and Justice PAC. Former Virginia Del. A.C. Cordoza, a Republican, is listed as the chairman, according to Virginia Board of Elections documents.
“I couldn’t see why they say it’s insulting,” Cordoza told WTOP. “I’m a Black man. I don’t want my Black vote to be taken away.”
The proposed new map, Cordoza said, “ripped apart majority-minority districts in order to increase the number of white representatives from Northern Virginia.”
Cordoza said he didn’t know how many homes the mailers had been sent to or how much the PAC spent on them.
“I want people to do their research and see exactly what’s happening,” Cordoza said. “We, as Virginians, voted for a bipartisan redistricting commission for a reason.”
Jones, though, said he sits “across the dinner table from people who have had their right to vote denied because of the color of their skin. It’s 2026. I would hope that we’d be past tactics like this, but clearly we aren’t.”
Get breaking news and daily headlines delivered to your email inbox by signing up here.
© 2026 WTOP. All Rights Reserved. This website is not intended for users located within the European Economic Area.
Virginia
Gov. Spanberger leads Virginia public safety readiness briefing
RICHMOND, Va. — Virginia Gov. Abigail Spanberger met with public safety leaders from across the commonwealth Monday as part of a “unified readiness” coordination effort.
The governor met with police and fire chiefs, sheriffs, emergency managers and private sector members — including Dominion Energy — to discuss Virginia’s commitment to public safety, intelligence sharing and interagency collaboration.
“As global tensions continue to evolve, I want to be very clear: there are no known threats specific to Virginia at this time,” Spanberger said. “Today’s briefing was about making sure that information can be shared quickly and we remain at the ready.”
The meeting relates to Spanberger’s Executive Order 12, which she says reaffirms Virginia’s commitment to public safety, community trust, and readiness.
CBS 6 is committed to sharing community voices on this important topic. Email your thoughts to the CBS 6 Newsroom.
📲: CONNECT WITH US
Blue Sky | Facebook | Instagram | X | Threads | TikTok | YouTube
This story was initially reported by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy. To learn more about how we use AI in our newsroom, click here.
Virginia
Opinion | Virginia Giuffre’s brothers join protest outside Epstein’s former New Mexico ranch
The brothers of the late Jeffrey Epstein accuser Virginia Giuffre joined demonstrators outside Epstein’s former ranch in New Mexico on Sunday to demand more transparency.
The protest, pegged to International Women’s Day, was attended by what the Santa Fe New Mexican estimated to be hundreds of demonstrators, including activists and lawmakers, outside the estate formerly known as Zorro Ranch.
Sky Roberts said it was the first time he had visited the ranch, and demonstrators’ presence was important as a show of “force” that they’re not “going away,” as some people, including the president, try to direct attention away from the Epstein scandal. During his remarks, he rebuked the government for what he called a cover-up and demanded the Justice Department release documents that show who visited the ranch, among other things.
“All those names are in the files, and right now the government is covering those up,” he said, according to Reuters.
Epstein reportedly talked about using the ranch (now owned by Don Huffines, the GOP candidate for Texas state comptroller) for a eugenics-inspired plan to impregnate several women to “seed” the human race with his DNA (there’s no evidence he carried out such a plan). Giuffre’s posthumously released memoir includes allegations about meeting politicians and CEOs at Zorro Ranch, which was also recently linked to an unverified claim in the Epstein files alleging the deceased sex criminal had the bodies of two women buried near the property. After that allegation surfaced among the recently released Epstein files, New Mexico’s state legislature formed a truth commission to investigate Epstein’s activities at the ranch; the state DOJ has opened a probe of its own.
-
Wisconsin1 week agoSetting sail on iceboats across a frozen lake in Wisconsin
-
Massachusetts1 week agoMassachusetts man awaits word from family in Iran after attacks
-
Maryland1 week agoAM showers Sunday in Maryland
-
Pennsylvania5 days agoPa. man found guilty of raping teen girl who he took to Mexico
-
Florida1 week agoFlorida man rescued after being stuck in shoulder-deep mud for days
-
Sports6 days agoKeith Olbermann under fire for calling Lou Holtz a ‘scumbag’ after legendary coach’s death
-
Detroit, MI4 days agoU.S. Postal Service could run out of money within a year
-
Miami, FL6 days agoCity of Miami celebrates reopening of Flagler Street as part of beautification project