Woodside Petroleum Ratings Remain On CreditWatch Negative, But Are Likely To Be Affirmed On Completion Of Equity Raising - S&P Global Ratings’ Credit Research

Woodside Petroleum Ratings Remain On CreditWatch Negative, But Are Likely To Be Affirmed On Completion Of Equity Raising

Woodside Petroleum Ratings Remain On CreditWatch Negative, But Are Likely To Be Affirmed On Completion Of Equity Raising - S&P Global Ratings’ Credit Research
Woodside Petroleum Ratings Remain On CreditWatch Negative, But Are Likely To Be Affirmed On Completion Of Equity Raising
Published Dec 14, 2009
1204 words — Published Dec 14, 2009
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Abstract:

MELBOURNE (Standard&Poor's) Dec. 15, 2009--Standard&Poor's Ratings Services today said that its 'A-' corporate credit and associated debt ratings on Woodside Petroleum Ltd. remain on CreditWatch with negative implications following Woodside's announcement of a fully underwritten entitlement offer to raise about A$2.5 billion. However, the 'A-' ratings on Woodside are likely to be affirmed, with a negative outlook, if the equity issuance is completed as planned. The ratings were initially placed on CreditWatch on Nov. 20, 2009 after Woodside announced additional costs to complete the company's Pluto foundation project. "In our opinion, Woodside's planned equity raising will improve the company's liquidity position, alleviate pressure associated with cost overruns at its Pluto project, give the company's balance sheet

  
Brief Excerpt:

RESEARCH Woodside Petroleum Ratings Remain On CreditWatch Negative, But Are Likely To Be Affirmed On Completion Of Equity Raising Publication date: 14-Dec-2009 Primary Credit Analyst: May Zhong, Melbourne (61) 3-9631-2164; may_zhong@standardandpoors.com...

  
Report Type:

Ratings Action

Ticker
WPL@AU
Issuer
Woodside Petroleum Ltd.
GICS
Oil & Gas Exploration & Production (10102020)
Sector
Global Issuers, Structured Finance
Country
Australia
Region
Pacific
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Woodside Petroleum Ratings Remain On CreditWatch Negative, But Are Likely To Be Affirmed On Completion Of Equity Raising" Dec 14, 2009. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Woodside-Petroleum-Ratings-Remain-On-CreditWatch-Negative-But-Are-Likely-To-Be-Affirmed-On-Completion-Of-Equity-Raising-763645>
  
APA:
S&P Global Ratings’ Credit Research. (). Woodside Petroleum Ratings Remain On CreditWatch Negative, But Are Likely To Be Affirmed On Completion Of Equity Raising Dec 14, 2009. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Woodside-Petroleum-Ratings-Remain-On-CreditWatch-Negative-But-Are-Likely-To-Be-Affirmed-On-Completion-Of-Equity-Raising-763645>
  
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