On Feb. 15, 2007, Standard&Poor's Ratings Services affirmed its 'B+' corporate credit rating on Lawrence, Kan.-based Protection One Alarm Monitoring Inc. The rating outlook is negative. At the same time, Standard&Poor's affirmed its 'B-' rating on Protection One's senior subordinated debt. Also, Standard&Poor's assigned its 'B' rating (one notch below the corporate credit rating) and '3' recovery rating to Protection One's proposed $125 million second-lien senior secured notes, indicating our expectation of meaningful (50%-80%) recovery of principal by creditors in the event of a payment default. These notes will replace existing senior secured notes at Integrated Alarm Services Group Inc. (IASG). Standard&Poor's also raised its bank loan and recovery ratings on Protection
