Research Update: Whirlpool Corp. Outlook Revised To Negative On Weaker-Than-Expected Credit Measures, Ratings Affirmed - S&P Global Ratings’ Credit Research

Research Update: Whirlpool Corp. Outlook Revised To Negative On Weaker-Than-Expected Credit Measures, Ratings Affirmed

Research Update: Whirlpool Corp. Outlook Revised To Negative On Weaker-Than-Expected Credit Measures, Ratings Affirmed - S&P Global Ratings’ Credit Research
Research Update: Whirlpool Corp. Outlook Revised To Negative On Weaker-Than-Expected Credit Measures, Ratings Affirmed
Published Feb 05, 2025
9 pages (4062 words) — Published Feb 05, 2025
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

U.S.-based appliance manufacturer Whirlpool Corp.'s credit measures were weaker than expected in fiscal year 2024 (ended Dec. 31, 2024). S&P Global Ratings estimates the company's S&P Global Ratings-adjusted leverage deteriorated to 5.2x over this period, primarily due to continued weak operating conditions in its key North American major domestic appliance (MDA) market. We forecast Whirlpool will improve its S&P Global Ratings-adjusted leverage below 4.5x by the end of 2025 and toward 4.0x by the end of 2026 on a 10% increase in its S&P Global Ratings-adjusted EBITDA stemming from cost cuts and the divestitures of its margin-dilutive Indian, European, and Middle East and North Africa (MENA) businesses. The company will need to reduce its S&P Global Ratings-adjusted leverage below 4.0x

  
Brief Excerpt:

... credit measures were weaker than expected in fiscal year 2024 (ended Dec. 31, 2024). S&P Global Ratings estimates the company's S&P Global Ratings-adjusted leverage deteriorated to 5.2x over this period, primarily due to continued weak operating conditions in its key North American major domestic appliance (MDA) market....

  
Report Type:

Research Update

Ticker
WHR
Issuer
Whirlpool Corp.
GICS
Household Appliances (25201040)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Whirlpool Corp. Outlook Revised To Negative On Weaker-Than-Expected Credit Measures, Ratings Affirmed" Feb 05, 2025. Alacra Store. May 02, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Whirlpool-Corp-Outlook-Revised-To-Negative-On-Weaker-Than-Expected-Credit-Measures-Ratings-Affirmed-3318882>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Whirlpool Corp. Outlook Revised To Negative On Weaker-Than-Expected Credit Measures, Ratings Affirmed Feb 05, 2025. New York, NY: Alacra Store. Retrieved May 02, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Whirlpool-Corp-Outlook-Revised-To-Negative-On-Weaker-Than-Expected-Credit-Measures-Ratings-Affirmed-3318882>
  
US$ 225.00
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