MELBOURNE (Standard&Poor's) May 19, 2009--Standard&Poor's Ratings Services today said that it had assigned its 'A-' long-term senior-unsecured debt rating to Woodside Finance Ltd.'s new US$1.1 billion three-year syndicated facility, which is guaranteed by Woodside Petroleum Ltd. (Woodside; A-/Negative/--) and Woodside Energy Ltd. The proceeds of the facility, which will be used for capital expenditure and general corporate purposes, should satisfy the group's funding needs in 2009. The syndicated facility will be unsecured senior obligations and will rank equally with all other unsecured and unsubordinated indebtedness of the issuer. The syndicated facility is subject to light financial covenants and a change-of-control clause. The ratings on Woodside reflect the company's cost-competitive operations, long reserve life, strong development pipeline,
