Fitch currently rates WHR and Maytag Corporation (Maytag) as follows:

WHR

--Long-term Issuer Default Rating (IDR) 'BBB-';

--Short-Term IDR 'F3';

--Commercial paper (CP) 'F3';

--Senior unsecured notes 'BBB-';

--Bank revolving credit facility 'BBB-' (Whirlpool Corp., Whirlpool Europe B.V. and Whirlpool Finance B.V. as borrowers).

Maytag

--Long-term IDR 'BBB-';

--Senior unsecured notes 'BBB-'.

The short-term IDR and CP rating for Whirlpool Finance B.V. is 'F3'. The Rating Outlook is Negative. Approximately $3 billion of debt is outstanding.

The Negative Outlook reflects Fitch's concerns regarding: --The extent of the decline in financial results from weak global economies and the ability of the company to downsize its cost structure if revenues decline faster than expectations;

--Maintenance of prices when consumers and retailers are pressured;

--A stronger U.S. dollar which could have a negative impact on the top line and profits as was the case in the first quarter of 2009.

Appliance demand has fallen in the U.S. since 2006 and global appliance demand trends are currently weak. In the U.S., declining discretionary consumer spending and rising unemployment compounded by continued weakness in new home construction, ongoing weakness in existing home sales, limited home renovation projects, lessening demand for replacement appliances, and tight credit markets continue to drive demand for appliances sharply lower. Retail destocking also affected first quarter 2009 North American results. Slowing demand in international markets will remain a drag in 2009 with Europe expected to be weaker than previously envisioned. Whirlpool has indicated it will see slowing demand in Latin America, an area that has contributed significantly to overall results over the past four years. During the first quarter of 2009, WHR's net sales decreased 22.7% to $3.6 billion. Excluding the impact of foreign currency, net sales decreased 14.2%.

WHR's actions taken to date to manage through this difficult environment include significant cost reduction steps, particularly regarding production costs and SG&A expenses. Restructuring efforts, reduced headcount and decreased spending drove expenses sharply lower in the first quarter of 2009 and the expectation is for continuing cost control for the remainder of the year.