The ratings reflect Whirlpool Corp.'s global leadership position in the mature and concentrated appliance industry, offset by exposure to economic fluctuations in key international markets and the U.S. 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. Still, uncertain economic conditions worldwide have weakened demand and continued to pressure prices. Moreover, the changing dynamics of the U.S. appliance retail environment, with the growing importance of mass merchandisers Home Depot Inc. and Lowe's Cos. Inc., remain concerns because competitive and pricing pressures are likely to intensify. As a result, the company's ongoing need for product innovation will become
