Standard & Poor’s placed the debt ratings...

Standard & Poor’s placed the debt ratings of Contel and Comsat on its creditwatch list with “developing” implications, meaning that ratings could be either raised or lowered . . . Naugles shareholders approved a deal with Collins Foods International in which Naugles will issue preferred stock to Collins in return for ownership of 111 of Collins’ Kentucky Fried Chicken restaurants--all in Southern California . . . HealthCare USA’s shareholders approved the $67-million sale of their company to Maxicare Health Plans of Los Angeles . . . Southland Corp. completed the previously announced sale of 50% of the stock in its Citgo Petroleum subsidiary to Petroleos de Venezuela.