S&P upgrades Whirlpool

Standard & Poor's said it raised its ratings on Whirlpool Corp., including the long-term corporate credit rating to BBB from BBB-, and raised the short-term and commercial paper rating on Whirlpool to A-2 from A-3.

The outlook is stable.

"The upgrade reflects our opinion that an improving economic environment in North America, a stronger housing market, continued growth in emerging markets, and a lower cost structure will support further improvement in Whirlpool's cash flows and credit measures," said S&P credit analyst Rick Joy in a news release.

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