Leadership in appliance manufacturing, Geographic diversity, and New-product development efforts. Operation in a mature industry, Intense competition, and Vulnerability to global economic and currency risk. The ratings on Benton Harbor, Mich.-based Whirlpool Corp. were placed on CreditWatch with negative implications on July 18, 2005. The action followed Whirlpool's announcement that it had made a proposal to acquire Maytag Corp. for $17 per share, plus the assumption of debt, for a transaction value of $2.3 billion. Since then, Whirlpool increased its offer to acquire Maytag to $21 per share, plus the assumption of debt, and Maytag's board of directors approved a merger agreement with Whirlpool. The transaction, subject to customary closing conditions, including regulatory and shareholder approvals, is expected to close
