The ratings on Whirlpool Corp. were placed on CreditWatch with negative implications Jan. 26, 2001. The ratings reflect the company's global leadership position in the appliance industry, offset by exposure to economic fluctuations in key international markets and the recent weakness in financial measures. Whirlpool continues to maintain the leading market share in several appliance categories across a number of different geographic regions. However, with slower demand for U.S. and European home appliance sales, the industry is experiencing intense price competition as manufacturers strive to retain market share. In addition, the changing dynamics of the appliance retail environment, with the loss of sales volume at three major customers (Circuit City, Heilig-Meyers, and Montgomery Ward), combined with the entrance of mass
