Moody's alters Woodside view to stable

Moody's Investors Service said it changed the outlooks for Woodside Energy Group Ltd. and Woodside Finance Ltd. to stable from negative.

The agency also affirmed the Baa1 issuer rating of Woodside Energy and Woodside Finance’s (P)Baa1 rating on its backed senior unsecured medium-term note program and its Baa1 backed senior unsecured ratings.

The rating action follows Woodside and BHP Group Ltd. finishing the merger of Woodside with BHP's oil and gas portfolio on June 1, Moody’s said.

“The affirmation of Woodside's ratings and change of outlook to stable reflect Moody's expectation that the company's improved credit profile and credit metrics following the merger will allow Woodside to fund its significant spending and manage the execution risks associated with the approved $12 billion Pluto-Scarborough LNG growth project in line with Moody's expectations for the Baa1 rating.

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