Moody's lifts Whirlpool to Baa2

Moody's Investors Service said it upgraded Whirlpool Corp.'s ratings, including its senior unsecured rating to Baa2 from Baa3 and its commercial paper rating to Prime-2 from Prime-3.

The outlook is stable.

The upgrade is due to Whirlpool's improved operating performance and credit profile and Moody's expectation for continued improvement as global appliance demand grows.

"We believe North America appliance demand will continue improving in the near to mid-term, driven by the ongoing recovery in the US housing market, modest increases in discretionary consumer spending, and by the typical replacement cycle for appliances purchased in the mid-2000 housing boom," Moody's senior credit Kevin Cassidy said in a news release.

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