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Moody's: Whirlpool unchanged
Moody's Investors Service said Whirlpool Corp.'s $600 million settlement does not affect its Baa3 senior unsecured rating or positive outlook.
However, contemplation of a possible upgrade may take longer than originally expected, Moody's said.
The agency said it believes the settlement will temporarily weaken Whirlpool's credit metrics in 2011 and 2012.
For instance, its debt-to-EBITDA ratio in 2011 will increase to about 3.5x, Moody's said.
The settlement also will diminish Whirlpool's cash flow credit metrics in both 2011 and 2012, the agency added.
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