To the Editor:

When evaluating a prospective borrower on behalf of a lender, an analyst relies heavily on the track record of the borrower. How healthy they are determines how attractive they are as a borrower, how easily they can borrow, and therefore how much interest they are going to have to pay. Obviously this can make a big difference in how much of a company’s revenue goes to interest expense, and the lower the interest expense, the more they can invest in the business.

When it comes to public finances, a town’s municipal bond rating is a good indicator of how healthy the town is, and has a significant impact on how much of the taxpayer’s dollar can go to building schools, providing services, and tax relief — instead of debt service.

Newtown’s bond rating was upgraded twice in the last three years, after 20 years without improvement. Thanks to those upgrades, we saved about three quarters of a million dollars.

That is the assessment of the management of this town by Moody’s Investor Services, the principal rating agency for municipal bonds, and a completely disinterested third party. The conclusion I draw about the current administration is equally clear. Keep Herb Rosenthal and Joe Bojnowski in office on November 4.

Pat Kelley

21 Bridge End Farm Lane, Sandy Hook                 October 21, 2003