NY -- Standard&Poor's CreditWire 1/21/1999 -- Standard&Poor's today lowered its corporate credit and bank loan ratings for The Scotts Co. (Scotts) to double-'B' from double-'B'-plus, and the subordinated debt rating to single-'B'-plus from double-'B'-minus. At the same time, Standard&Poor's withdrew its rating on Scotts' $100 million 9.875% senior subordinated notes due Aug. 1, 2004, which have been called. All ratings are removed from CreditWatch, where they were placed June 30, 1998. The ratings outlook is negative. The downgrade reflects Scotts' high leverage resulting from recent large debt-financed acquisitions. The initial CreditWatch placements followed Scotts' intention to buy the marketing and agency rights to the Roundup brand of herbicide products from Monsanto Co. and the
