Fitch: Woodside’s outlook revised to negative

Fitch: Woodside's outlook revised to negative

Credit rating agency Fitch on Friday informed it has revised the outlook on Woodside’s IDR to negative from stable. 

Fitch affirmed Woodside’s long-term foreign-currency issuer default rating (IDR) and its foreign-currency senior unsecured rating at ‘BBB+’, the statement reveals.

“At the same time, the agency has affirmed Woodside’s short-term IDR at ‘F2’ and simultaneously withdrawn this rating, as Fitch no longer considers it relevant to the agency’s coverage,” the agency said.

The outlook revision reflects Woodside’s lower rating headroom under sustained low oil prices and weakness in the LNG markets.

According to Fitch, Australian LNG player faces lower oil-linked LNG revenues in 2016 amid the low oil price environment.

Fitch added it expects oil prices to remain low for longer than previously expected, with limited prospects for price recovery in 2016 and continued near-term volatility.

Share this article

Follow LNG World News

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

LNG Pricing, Trading & Hedging: 3-Day Training Course – London / Mar 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Houston / Feb 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >