We believe improving economic conditions and a stronger housing market, along with a lower cost structure, will allow U.S.-based appliance manufacturer Whirlpool Corp. to further strengthen its credit measures and operating performance. We are raising the ratings on the company, including the long-term corporate credit rating to 'BBB' from 'BBB-', and the short-term and commercial paper rating to 'A-2' from 'A-3'. The outlook is stable, reflecting the company's improving operating trends and our expectation that the company will continue to improve credit measures and maintain strong liquidity. On March 29, 2013, Standard&Poor's Ratings Services raised its ratings on Benton Harbor, Mich.-based Whirlpool Corp., including the long-term corporate credit rating to 'BBB' from 'BBB-'. At the same time, we
