As of Dec. 18, 2006, ratings on Scotts Miracle remain on CreditWatch with negative implications where they were placed Dec. 13, 2006. The CreditWatch listing reflects the company's increasingly aggressive financial policy following its announcement that it plans to return $750 million to its shareholders through a $500 million special one-time cash dividend and fund share repurchases of up to $250 million. We will meet with management and review the company's pro forma capital structure and outlook for fiscal 2007 before resolving the CreditWatch listing. Scotts is a leading provider of consumer products for lawn and garden care, professional turf, and horticulture, with well-recognized brand names. The company also provides residential lawn care, tree and shrub care, and external pest
