MELBOURNE (Standard&Poor's CreditWire) Nov. 27, 2000--Standard&Poor's today placed the triple-'B'-plus/'A-2' ratings of Woodside Petroleum Ltd. (Woodside), its rated debt issues, and the guaranteed debt issues of Woodside Finance Ltd. on CreditWatch with positive implications following the merger offer made by Shell Australia Investments Ltd. (ultimately wholly owned Royal Dutch/Shell Group of Companies, triple-'A'/Stable/'A-1'-plus) on Nov. 24, 2000. The offer includes a cash component of A$14.80 per share for one Woodside share, and one call option over one Woodside share, exercisable at A$14.80, if the merger proposal is approved by Woodside shareholders. The current offer follows a previous offer made by Shell in May 2000, and is expected to proceed only if the board of Woodside formally
