S&P puts Woodside Petroleum on watch

S&P said it placed its BBB+ ratings on Woodside Petroleum Ltd. on CreditWatch with negative implications.

The placement indicates a high likelihood of a downgrade in the next month or so if the company does not take adequate steps to preserve its financial profile, amid depressed oil and LNG markets and a significant capital expenditure pipeline, the agency said.

S&P said it aims to resolve the CreditWatch in the next month or so, after reviewing the company's growth plans, funding strategy and any steps the company would take to protect its financial profile in the current market environment.

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