S&P: Whirlpool unchanged

Standard & Poor's said the ratings and outlook on Whirlpool Corp. are not affected by news that its Brazilian subsidiary expects to settle a long-standing collection dispute with a Brazilian bank.

If approved by the Brazilian court, the subsidiary will pay R$959 million in two installments through the first quarter of 2012, S&P said.

Although the amount of the settlement is greater than expected, it removes an impediment to a future upgrade and is below the $1.1 billion high-end potential liability previously indicated by the company, the agency said.

S&P said it expects the settlement to be paid through existing cash balances and free cash flow generation.

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