PONE announced a proposed transaction to retire its $115 million in outstanding senior secured notes via $75 million in incremental term loan debt and approximately $50 million in cash on hand. In addition, the company seeks to extend the maturity of its existing senior secured term debt to 2014 from 2012. We are placing the 'B' corporate credit rating and the 'BB-' rating on the senior secured credit facility on CreditWatch Positive. NEW YORK (Standard&Poor's) Oct. 27, 2009--Standard&Poor's Ratings Services said today it placed its 'B' corporate credit rating on Lawrence, Kan.-based Protection One Alarm Monitoring Inc. (PONE) on CreditWatch with positive implications pending the closing of the company's proposed financing deal. At the same time,
