Reported about 9 hours ago
S&P Global Ratings has downgraded Woodside Petroleum's credit outlook from 'stable' to 'negative' after the company announced a $17.5 billion final investment decision on its Louisiana liquefied natural gas project. The decision to proceed with this project without a significant reduction in offtake exposure has diminished Woodside's ratings potential, although the company retains a 'BBB+' rating. Woodside's CEO has indicated intentions to dilute stakes further in this venture, as the project faces market risks that may affect its financial stability.
Source: YAHOO