The 20-year old Republic of Ireland U21 international had a similar spell on loan to Third Division Hull City during last season and impressed the Tigers manager Peter Taylor by hitting five goals in eleven games at the Kingston Communications Stadium and Dario Gradi hopes he can do the same for the Gresty Road club on their return to Division One football.
Birkenhead born Walters was signed by Wanderers from Blackburn Rovers Youth Academy in 2002 and although he is highly rated at the Reebok Stadium, his chances of first team football at the moment are limited with the likes of Henrik Pedersen, Youri Djorkaeff, Kevin Davies and Delroy Facey in front of him in the pecking order.