Fitch rates Whirlpool notes BBB

Fitch Ratings said it assigned a BBB rating to Whirlpool Corp.'s offering of new 10-year senior unsecured notes.

The notes will be senior unsecured obligations and will rank equally in right of payment with existing senior unsecured debt, Fitch said.

The proceeds, along with proceeds from an add-on to its existing 2022 notes, will be used to repay €600 million of outstanding term loan borrowings due Dec. 1, 2019, along with general corporate purposes.

The ratings reflect the company's leading market positions in key countries, including the United States, Brazil, United Kingdom, Canada, Italy, France and Russia, Fitch said.

The company also has meaningful market share in other countries such as Mexico, India, Germany and Spain, the agency added.

The company seeks to use its larger platform to further grow the business, including achieving revenue synergies from these acquisitions, growing its core business, improving its emerging market presence and expanding its adjacent businesses, Fitch said.

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