NEW YORK (Standard&Poor's CreditWire) Aug. 17, 1999--Standard&Poor's today placed its ratings for Protection One Alarm Monitoring Inc. on CreditWatch with negative implications. (see list below) The CreditWatch placement reflects the company's expectation that absent certain actions, it will be in violation of covenants on its credit facility for the quarter ending Sept. 30, 1999. Although Standard&Poor's believes it is likely that covenant violation will be resolved in the near term, it is still an open issue. The current ratings on Protection One reflect the implied support Standard&Poor's believes is provided by Western Resources Inc., which has a majority ownership stake in the company. Western Resources does not guarantee Protection One's debt; however,
