NEW YORK (Standard&Poor's) Jan. 15, 2003--Standard&Poor's Ratings Services said today that it placed its 'B' corporate credit and other ratings for Protection One Alarm Monitoring Inc. on CreditWatch with negative implications. The action was taken because of concerns associated with the intention of 88% owner Westar Energy Inc. (BB+/Watch Neg/--) to dispose of Protection One and the potentially negative impact of recent directives by the Kansas Corporation Commission. Topeka, Kan.–based Protection One is the second-largest security alarm monitoring company in the nation. As of September 2002, it had about $575 million of total debt outstanding. Westar Energy intends to dispose of its unregulated subsidiaries, including Protection One. In addition, Protection One's ability to access funds through
