The ratings on Benton Harbor, Mich.-based Whirlpool Corp. reflect its global leadership position in the mature and concentrated major appliance industry and geographic diversity. These factors are partially offset by the company's still elevated debt levels and weak credit measures following the March 2006 acquisition of Maytag Corp., and exposure to economic conditions in the company's key markets. Whirlpool continues to maintain the leading market share in several major appliance categories across a number of different geographic regions. The company strengthened its position in the key U.S. major appliance market with the acquisition of Maytag, while continuing to grow in international sales and offshore manufacturing capabilities, providing some geographic diversity. Whirlpool expects to achieve its post-merger cost savings by the
