...- S&P Global Ratings recently lowered its crude oil and natural gas price assumptions to US$30 per barrel (/bbl) in 2020, from US$40/bbl for the remainder of 2020; US$50/bbl in 2021; and US$55/bbl in 2022 and thereafter. - As a result, we forecast Woodside will have materially weaker cash flows than our previous expectations, despite efforts to significantly curtail or defer its large capital investment program and reduce operating costs. - On April 3, 2020, S&P Global Ratings affirmed its '###+' issuer credit rating on Woodside and issue credit ratings on the company's debt. We also removed the ratings from CreditWatch, were they were placed with negative implications on March 23, 2020. - The outlook is negative, reflecting our view that the oil price plunge has weakened Woodside's position ahead of its next phase of major capital project development, despite some support over the next 12 months through cuts in capital investments and non-essential costs....
