The ratings on Benton Harbor, Mich.-based Whirlpool Corp. reflect Standard&Poor's Ratings Services' opinion that the company has a "satisfactory" business risk profile and an "intermediate" financial risk profile, as defined in our criteria. Key credit factors in our assessment of Whirlpool's satisfactory business risk profile include the company's strong market position as the largest major appliance manufacturer in the world, supported by its portfolio of well-recognized brand names, focused research&development (R&D) efforts, and geographic diversity. Other key credit factors considered include our view of the company's intense competition from several large, well-capitalized international companies, participation in a cyclical industry, and exposure to fluctuating raw material costs. The company's intermediate financial risk profile is supported by Whirlpool's
