Wickes’ debt is under review by rating firms.

Standard & Poor’s followed the lead of Moody’s Investors Service in placing about $1.9 billion of the Santa Monica company’s debt under review, with the possibility of a downgrade. The actions were taken after Wickes’ disclosure that its recently acquired Collins & Aikman unit has sold about $360 million of carpeting that failed certain flammability tests. “Until Wickes’ potential liability in this situation is quantified and the amount of applicable insurance coverages can be ascertained, the firm’s credit worthiness is in jeopardy,” S&P; said.