S&P: Woodside Petroleum view to stable

Standard & Poor's said it affirmed its BBB+ corporate credit and associated senior unsecured debt ratings on Woodside Petroleum Ltd.

The outlook was revised to stable from positive.

"The stable outlook reflects our expectation that Woodside will maintain its FFO to debt (adjusted to include asset-retirement obligations and operating leases) of more than 45% while the company pursues its growth opportunities in the short- to medium-term,” S&P credit analyst Craig Parker said in a news release. “We also expect Woodside to generate positive free operating cash flows."

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