No. 1 major appliance manufacturer globally; Continued focus on product development; and Meaningful cost structure improvement due to manufacturing footprint reduction. Intense competition with several large international manufacturing companies; Operates in a cyclical industry exposed to raw material cost volatility; and Uncertainty surrounding outstanding regulatory and litigation risk. The ratings on Benton Harbor, Mich.-based Whirlpool Corp. reflect Standard&Poor's Ratings Services' satisfactory assessment of the company's business risk profile 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. Key risk factors include intense competition from several large, well-capitalized international companies, participation in a cyclical industry, exposure to fluctuating raw material costs, and
