Fitch cuts Woodside view to negative

Fitch Ratings said it revised the outlook on Woodside Petroleum Ltd.'s long-term foreign-currency issuer default rating to negative from stable. The agency also affirmed its long-term issuer default rating and senior debt ratings at BBB+ and its short-term foreign-currency issuer default rating at F2.

Fitch said it expects Woodside's credit metrics to improve following the commissioning of the Pluto liquefied natural gas train 1 project.

But the outlook revision reflects the agency's latest modeling of Woodside's future cash flows and debt, the agency said, and a detailed comparison with the company's international peers.

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