Moody's assigns Whirlpool bonds Baa1

Moody's Investors Service said it assigned a Baa1 rating to Whirlpool Corp.’s new $300 million of senior unsecured 10-year notes.

All other ratings for Whirlpool and its subsidiaries, including the Baa1 senior unsecured ratings remain unchanged, the agency said in a press release.

Proceeds will be used to repay debt, specifically the $300 million of notes that come due on June 15. The company plans to allocate an equal amount of $300 million towards sustainable projects.

“The offering is credit positive because it extends the maturity profile and helps the company facilitate projects that improve its energy efficiency and reduce waste,” Moody’s said in a press release.

The outlook is stable.

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