Fitch gives Whirlpool notes BBB

Fitch Ratings said it assigned a BBB rating to Whirlpool EMEA Finance Sarl's proposed offering of senior unsecured notes. The notes will be fully guaranteed by Whirlpool Corp. and will rank pari passu with all other senior unsecured debt in the group.

Whirlpool EMEA is a finance subsidiary that holds no material assets and does not engage in any business activities or operations other than intercompany group financing. The company intends to use the proceeds to redeem Whirlpool's €500 million of 0.625% senior unsecured notes due March 2020 and for general corporate purposes.

The transaction will be leverage-neutral. Fitch currently rates Whirlpool's long-term issuer default rating and unsecured notes BBB with a stable outlook.

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