Fitch ups Whirlpool, Maytag

Fitch Ratings said it upgraded the ratings of Whirlpool Corp. and Maytag Corp.

The upgrades included Whirlpool's long-term issuer default rating, senior notes and bank revolving credit facility to BBB from BBB- and its short-term issuer default rating and commercial paper rating to F2 from F3.

Also upgraded were Maytag's long-term issuer default rating and senior notes to BBB from BBB-, along with Whirlpool Finance BV's short-term issuer default rating and commercial paper rating to F2 from F3.

The outlook is stable.

The upgrades reflect the strengthening of the company's financial profile over the past year, including improved profit margins, lower leverage and strong free cash flow generation, Fitch said.

These improvements were driven by internal initiatives implemented in recent years, the agency said, as well as recovering end-market demand.

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