MELBOURNE (Standard&Poor's) June 25, 2013--Standard&Poor's Ratings Services said today that it had revised the outlook on its 'BBB+' rating on Australian oil and gas company Woodside Petroleum Ltd. to positive from stable. At the same time, we affirmed the ratings on the company. "The outlook revision reflects our expectation that there is a one-in-three chance that Woodside's operating performance would generate credit metrics that would support a higher rating," Standard&Poor's credit analyst May Zhong said. "In addition, we would need to see more visibility regarding Woodside's capital requirement and funding approach for its next large project." Metrics that would support a higher rating would include funds from operations (FFO) to debt (adjusted to include
