The ratings reflect Whirlpool Corp.'s global leadership position in the mature appliance industry, offset by exposure to economic fluctuations in key international markets. Benton Harbor, Mich.-based Whirlpool continues to maintain the leading market share in several appliance categories across a number of different geographic regions. The company's international sales and manufacturing capabilities provide geographic diversity. Although the global appliance industry continued to experience pressure in 2002 as a result of ongoing weak demand in Europe and Latin America and intense price competition, Whirlpool increased net revenues by about 4% for the six months ended June 30, 2002, compared with the same period last year. Similar to 2001, the increase was driven by increased demand in the key North American market
