NEW YORK, Aug 16 – Moody’s Investors Service on Tuesday said it may cut Whirlpool’s debt ratings, citing the expectation that Whirlpool will finance part of its Maytag acquisition with debt.
Moody’s also revised its outlook on Maytag to “direction uncertain” from “review for possible downgrade
“Moody’s expects that the bid will be financed with $1.7 billion split equally between equity and debt plus the assumption of approximately $1 billion of Maytag’s debt,” the rating agency said.
Whirlpool’s senior debt is currently rated “Baa1” by Moody’s. Maytag currently holds a “Ba2” senior unsecured rating from Moody’s
From Reuters
