On Dec. 22, 2006, Standard&Poor's Ratings Services affirmed its 'B+' corporate credit and 'B-' senior subordinated debt ratings on Lawrence, Kan.-based Protection One Alarm Monitoring Inc. At the same time, Standard&Poor's placed its 'B+' first-lien senior secured debt rating, along with its '2' recovery rating, on CreditWatch with positive implications. The rating outlook remains negative. The ratings affirmation follows the recent announcement that Protection One and Integrated Alarm Services Group Inc. (IASG) have executed a definitive merger agreement. Under the terms of the agreement, which remains subject to the approval of IASG's shareholders and regulators, Protection One will exchange 0.29 shares for each share of IASG stock, and will assume IASG's $125 million second-lien senior secured
