NEW YORK (Standard & Poor's) Dec. 21, 2006--Standard & Poor's Ratings Services said today that an announcement by Relational Investors LLC that it will make a resolution and proxy solicitation at the 2007 annual meeting of Atlanta, Ga.-based Home Depot Inc. (HD; A+/Stable/A-1) has no current impact on HD's 'A+' corporate credit rating or stable outlook. Relational Investors, owner of 0.6% of HD's common stock, said that it will ask shareholders to approve a proposal calling for the creation of a special committee comprised exclusively of independent directors that would review the company's strategic direction, the performance of management, and strategic alternatives. Relational Investors would also like to nominate one or more directors for election at that annual meeting. HD
