On March 17, 2005, Standard&Poor's Ratings Services raised its corporate credit rating on Lawrence, Kan.-based Protection One Alarm Monitoring Inc. to 'B+', and removed the rating from CreditWatch, where it was placed on Nov. 15, 2004. Standard&Poor's also raised the senior subordinated debt rating to 'B-'. The outlook is negative. The ratings action follows the recent completion of an out-of-court debt restructuring with affiliates of Quadrangle Group, the company's majority equity holders and lenders under its credit facility, along with the company's plans to refinance its near term debt obligations. At the same time, Standard&Poor's assigned its 'B+' bank loan rating, with a recovery rating of '2', to Protection One's proposed $275 million senior
