S&P: Whirlpool outlook stable

Standard & Poor's said it revised the outlook on Whirlpool Corp. to stable from positive and affirmed its BBB- corporate credit rating.

"The outlook revision to stable from positive reflects our belief that credit measures over the next year will not reach levels previously specified for an upgrade, including leverage approaching 2.5x," S&P analyst Jerry Phelan said in a statement.

Weak demand, highly competitive conditions and material cost inflation will likely prevent the company from improving credit measures, despite continued price increases and potential productivity improvements, the agency said.

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