A significant percentage of revenues are recurring; and The alarm monitoring industry is expected to expand at more than 8% over the intermediate term. A highly levered financial profile; A second-tier position in a highly competitive and fragmented market; Heightened customer attrition; and A depressed housing market. The ratings on Protection One Alarm Monitoring Inc. (PONE) reflect the company's highly leveraged financial profile and second-tier position in the highly competitive and fragmented U.S. security alarm monitoring industry. These factors are further compounded by a weak economic environment. A largely recurring revenue base and good liquidity partially offset these factors. PONE provides electronic security alarm monitoring services to the residential, commercial, and wholesale markets. As of Sept. 30, 2008, the company
