The ratings on Benton Harbor, Mich.-based Whirlpool Corp. reflect its strong brand recognition, global leadership position in the mature and concentrated major appliance industry, and growing geographic diversity. Whirlpool continues to maintain a leading market share in several major appliance categories across several different geographic regions. Standard&Poor's Ratings Services believes the negative effect of deteriorating economic conditions in key markets has begun to abate, especially in North America, and above-average growth rates in certain emerging economies in Latin America and Asia will continue. In our opinion, this will allow the company to improve credit measures over the near to intermediate term. Although Whirlpool's top-line performance declined in fiscal 2009, the company significantly cut costs and improved its operating
