Fitch rates Whirlpool notes BBB

Fitch Ratings said it assigned a BBB rating to Whirlpool Corp.'s proposed offering of $250 million of 10-year senior notes.

The company has a long-term issuer default rating of BBB.

The outlook is stable.

Proceeds will be used for general corporate purposes, including repayment of short-term debt.

The ratings reflect the company's position as the world's largest appliance manufacturer, with leading market positions in many regions, according to the agency.

Risks include intense global competition, volatility of raw material costs, sensitivity to business cycles, and ongoing regulatory and legal issues, the agency said.

The company's leverage as measured by debt to EBITDA was 1.7 times for the last 12 months ended March 31, flat from year-end 2011 levels and up slightly from the 1.5x level reported at year-end 2010, Fitch said.

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