Leading global major appliance manufacturer; Growing geographic diversity; and New-product development efforts. Subject to discretionary consumer demand; Operates in a mature industry; and Vulnerable to regional economic downturns and currency risk. The ratings on Whirlpool Corp. reflect its strong brand recognition, global leadership position in the mature and concentrated major appliance industry, and geographic diversity. We believe exposure to deteriorating economic conditions in key markets, resulting in weakened credit measures over the near term, will hamper the company. 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 by acquiring Maytag, while continuing growth in international sales and
