Whirlpool Withdraws Its 2020 Guidance, Boosts Liquidity
On Tuesday, Whirlpool (NYSE: WHR) informed investors that it was pulling its 2020 guidance in light of the COVID-19 pandemic, which is disrupting its supply chains and reducing demand for its products. The uncertainty also prompted the company to withdraw $2.2 billion from its $3.5 billion credit facility.
A portion of those funds went to pay off some of Whirlpool's short-term debt. It's holding the remainder in cash as a cushion against whatever may come in the year ahead.
Image source: Whirlpool Corporation.
Source Fool.com