MELBOURNE (Standard&Poor's CreditWire) March 16, 2000--Standard&Poor's today assigned its triple-'B'-plus/'A-2' ratings to Woodside Finance Ltd.'s combined medium-term note and commercial paper program. The program is guaranteed by Woodside Petroleum Ltd. (Woodside, triple-'B'-plus/Stable/'A-2'), which has been assigned an 'A-2' short-term corporate credit rating. The ratings on Woodside reflect its cost-competitive operations, strong and predictable cash flows from long-term domestic gas and liquefied natural gas (LNG) contracts, and long reserve life of its fields. These strengths are marginally offset by the company's limited geographic and product diversity, and vulnerability to oil price and currency movements. The strengthening of Woodside's business position should underpin a strong and consistent operating performance in the medium term. This strengthening primarily reflects the
