Moody’s turns Whirlpool view to negative

Moody’s Investors Service said it revised its outlook for Whirlpool Corp., Whirlpool EMEA Finance Sarl (WEF) and Whirlpool Finance Luxembourg Sarl (WFL) to negative from stable.

“The change to a negative outlook reflects Whirlpool's elevated financial leverage and the risk that operating performance remains weak over the next 12 to 18 months, which could impede the company's ability to quickly reduce leverage. The negative outlook also reflects that the company's plans to continue paying a large dividend may result in continued weak free cash flow and further hamper the company's ability to repay debt and reduce leverage,” Moody’s said in a press release.

The agency also affirmed the Baa1 senior unsecured ratings of Whirlpool and its subsidiaries.

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