MELBOURNE (Standard&Poor's) Feb. 25, 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 billion bond issue, guaranteed by Woodside Petroleum Ltd. (A-/Negative/--) and Woodside Energy Ltd. The proceeds of the issue, which consisted of US$400 million 8.125% notes due 2014 and US$600 million 8.750% notes due 2019, will be used to repay short-term debt facilities and fund ongoing capital expenditure. The notes will be unsecured senior obligations and will rank equally with all other unsecured and unsubordinated indebtedness of the issuer.
