NY -- Standard&Poor's CreditWire 12/15/1998 -- Standard&Poor's today assigned its double-`B'-plus rating to Protection One Alarm Monitoring Inc.'s $300 million senior subordinated notes. In addition, Standard&Poor's affirmed its triple-`B'-minus corporate credit rating and senior note rating, and its double-`B'-plus convertible notes and subordinated note ratings. Proceeds of the debt issue will be used to refinance existing bank debt. Culver City, Calif.-based Protection One is the second-largest security alarm company in the U.S. providing monitoring and related security services. Ratings reflect the implied support that Standard&Poor's believes is provided by Western Resources Inc., which has a majority ownership stake in the company. Ratings further reflect Protection One's solid base of recurring revenue and
