Moody's: Whirlpool outlook stable

Moody's Investors Service said it revised the outlook for Whirlpool Corp. to stable from negative following an improvement in demand and free cash flow in late 2009 and due to expectation that demand trends will continue to improve and that liquidity will remain strong.

The company's Baa3 senior unsecured rating was affirmed.

Moody's said the stable outlook reflects its belief that demand has stabilized in North America, which is where about 55% of revenue is generated, and that demand in Latin America and Asia will continue to improve, albeit at a slower pace than in 2009.

The affirmation of Whirlpool's ratings reflects the company's significant scale with revenue of more than $17 billion, significant geographic diversification and very strong brand names, the agency noted.

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