S&P rates Whirlpool paper

Standard & Poor's said it assigned its A-3 commercial paper rating to Whirlpool Corp.'s new €500 million commercial paper program.

According to S&P, Whirlpool has indicated borrowings under the program will be used for general corporate purposes.

The agency said its ratings on Whirlpool reflect a "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 and development efforts and geographic diversity.

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