U.S.-based appliance manufacturer Whirlpool has significantly improved profitability primarily through manufacturing footprint rationalization. We expect the company's liquidity to remain strong despite the potential for modest credit measure deterioration over the next six months. We are assigning our 'A-3' short-term and commercial paper rating to the company, and affirming all of our long-term ratings, including our 'BBB-' corporate credit rating. The positive outlook reflects our opinion that over the next 18 months the company should be able to improve credit measures closer to 'BBB' rating category medians. On March 11, 2011, Standard&Poor's Ratings Services assigned its 'A-3' short-term and commercial paper (CP) rating to Benton Harbor, Mich.-based Whirlpool Corp. At the same time, we affirmed all of our
