Fitch rates Whirlpool notes BBB-

Fitch Ratings said it assigned a BBB- rating to Whirlpool Corp.'s $850 million three- and five-year senior notes.

Whirlpool has a long-term issuer default rating of BBB-, short-term issuer default rating of F3, commercial paper at F3, senior unsecured notes at BBB- and bank revolving credit facility at BBB-.

Maytag Corp. has a long-term issuer default rating of BBB- and senior unsecured notes rated BBB-.

The outlook is negative.

Proceeds are expected to be used to refinance short-term debt and to meet upcoming debt maturities.

The negative outlook reflects concerns regarding the extent of the decline in financial results from weak global economies, maintenance of prices when consumers and retailers are pressured and a stronger dollar, which could hurt the top line and profits, according to the agency.

The issuer's debt-to-EBITDA ratio rose from 1.3x on Dec. 31, 2007 to 2x at year-end 2008 and was at 2.4x for the 12 months ended March 31.

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