Fitch: Protection One on watch positive

Fitch Ratings said it placed Protection One Inc.'s CC senior unsecured and C senior subordinated ratings on Rating Watch positive. These notes were issued by Protection One Alarm Monitoring Inc., the company's wholly owned subsidiary.

The action follows Protection One's announcement that it has reached an agreement with affiliates of Quadrangle Group, the company's largest creditors and its majority equity holders on a debt restructuring that would reduce Protection One's total debt by $190 million to $356 million.

Fitch said resolution of the Rating Watch positive will follow completion of the debt restructuring and the resultant impact on Protection One's capital structure and liquidity position.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.