To the Editor:Armel Kouassi, a Senior Banker with more than 15 years of experience in global banking and capital markets is a candidate for the Newtown Board of Finance.

While the credit ratings process appears shrouded in mystery, rating agencies provide an independent assessment on the municipality's probability of default that reflects the town financial health. A downgrade to a higher risk rating means Newtown must pay higher interest rates to investors to compensate for the higher risk. Basically, "We" taxpayers would have to pay more.

Newtown is not immune from the state budget stalemate and Connecticut's economic environment. As many municipalities in Connecticut, Newtown faces fiscal uncertainty while the budget impasse continues. Millions of dollars are at stake for Newtown, including much needed funding for schools and critical services, which may not be available in fiscal 2018.

The good news is that the proactive planning during budget season to absorb some loss in state aid and careful investment of Newtown's tax dollars couple with the careful borrowing, have allowed to maintain a healthy fund balance, providing a cushion against adverse scenarios and preserving the town credit rating and lower interest rate we pay to creditors.

To maintain Newtown as a desirable place to live, raise a family, and grow small businesses, one of the most important things we can do as a town is to continue to manage our finances in a balanced and responsible manner and apply careful discretion while investing Newtowners' tax dollars.

Armel R. Kouassi

8 Briarwood Lane, Newtown October 18, 2017