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S&P: Whirlpool view to stable
Standard & Poor's said it revised its outlook on Whirlpool Corp. to stable from negative. The agency also said it affirmed its BBB- corporate credit rating.
The outlook revision reflects expectations that credit measures will improve to levels that support the current ratings, S&P said, and an opinion that liquidity has meaningfully improved.
Although S&P said it estimates that its adjusted debt-to-EBITDA ratio has only modestly improved to 3.8x in 2009 from 4.1x in 2008, the agency said expects leverage to approach 3x by the end of 2010.
S&P also said it believes liquidity has meaningfully improved.
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