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Bulletin: Ratings On Whirlpool Unaffected By Lower Demand And Higher Leverage

Published Apr 28, 2009

477 words — Published Apr 28, 2009

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Abstract:

NEW YORK (Standard&Poor's) April 28, 2009--Standard&Poor's Ratings Services said today that Whirlpool Corp.'s (BBB-/Stable/A-3) ratings and outlook are currently unaffected by its recent fiscal 2009 first-quarter earnings announcement, in which the company reaffirmed its earnings and cash flow guidance while lowering its sales volume projections for North America and Europe. We estimate that the company's adjusted debt to EBITDA (including our standard adjustments for underfunded pension obligations and operating leases, as well as an $89 million exclusion from EBITDA for a Retiree Healthcare Savings Account (RHSA) curtailment gain) increased to 3.9x for the 12 months ended March 31, 2009, from about 3.4x at year-end 2008. However, we recognize that the first quarter historically has had seasonally

Brief Excerpt:

RESEARCH Bulletin: Ratings On Whirlpool Unaffected By Lower Demand And Higher Leverage Publication date: 28-Apr-2009 Primary Credit Analyst: Christopher Johnson, CFA, New York (1) 212-438-1433; chris_johnson@standardandpoors.com NEW...

Report Type:

Bulletin

Ticker

WHR

Issuer

Whirlpool Corp.

GICS

Household Appliances (25201040)

Sector

Global Issuers , Structured Finance

Country

United States

Region

United States

Format:

HTML

Whirlpool Corp.'s New Debt Offerings Are Rated 'BBB-' – 2009/04/30 – US$ 150.00

Whirlpool Corp. Short-Term Corp. Credit, Commercial Paper Ratings Withdrawn – 2009/05/12 – US$ 150.00

Research Update: Short-Term Corp. Credit, Commercial Paper Ratings On Whirlpool Are Withdrawn – 2009/05/12 – US$ 225.00

Whirlpool Corp. Outlook Revised To Neg From Stable; Ratings Affirmed – 2009/07/23 – US$ 150.00

Research Update: Whirlpool Corp. Outlook Revised To Negative From Stable; Ratings Affirmed – 2009/07/23 – US$ 225.00

Whirlpool Corp.'s Senior Unsecured Debt Rated Prelim 'BBB-' – 2009/03/06 – US$ 150.00

Bulletin: Whirlpool Ratings Not Immediately Affected By Discussions On Capital Structure Flexibility – 2009/02/09 – Free

Whirlpool Corp. – 2009/01/22 – US$ 500.00

Summary: Whirlpool Corp. – 2009/01/22 – US$ 225.00

Ratings On Whirlpool Lowered To 'BBB-'; Outlook Stable – 2009/01/20 – US$ 150.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Bulletin: Ratings On Whirlpool Unaffected By Lower Demand And Higher Leverage" Apr 28, 2009. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Ratings-On-Whirlpool-Unaffected-By-Lower-Demand-And-Higher-Leverage-718321>

APA:	S&P Global Ratings’ Credit Research. (). Bulletin: Ratings On Whirlpool Unaffected By Lower Demand And Higher Leverage Apr 28, 2009. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Ratings-On-Whirlpool-Unaffected-By-Lower-Demand-And-Higher-Leverage-718321>

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