Fitch rates Whirlpool notes BBB

Fitch Ratings said it assigned a BBB rating to Whirlpool Corp.’s offering of €600 million 10-year senior unsecured notes.

The notes will be issued by Whirlpool Finance Luxembourg Sarl (a finance subsidiary that holds no material assets and does not engage in any business activities or operation other than intercompany group financing) and will be guaranteed by Whirlpool.

The offering will be equal in right of payment with all other senior unsecured debt.

The company intends to use the net proceeds for general corporate purposes, including the repayment of commercial paper borrowings.

Whirlpool is the world's largest appliance manufacturer with leading market positions in key countries including the U.S., Brazil, the U.K., Canada, Russia, Italy and France, Fitch said. The company also has meaningful market share in other countries such as Mexico, China, India, Germany and Spain.

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