S&P assigns Whirlpool notes BBB

Standard & Poor's said it assigned its BBB senior unsecured debt rating to Whirlpool Corp.'s new $500 million 5.5% senior unsecured notes due 2013.

The issue was drawn under the company's senior unsecured shelf registration filed on Feb. 7, 2006, the agency said, adding that proceeds will be used to refinance existing debt and for general corporate purposes.

According to S&P, the long-term corporate credit rating on Whirlpool is BBB and the rating reflects the company's global leadership position in the relatively mature and concentrated major appliance industry, as well as its geographic diversity.

These factors are partially offset by Whirlpool's exposure to weakening economic conditions in the company's key markets and by somewhat elevated debt levels following the March 2006 acquisition of Maytag Corp., S&P added.

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