Moody's: Woodside notes Baa1

Moody's Investors Service said it assigned a Baa1 long-term rating to Woodside Finance Ltd.'s proposed $700 million of 4.6% Rule 144A notes issuance due May 10, 2021.

The outlook is negative.

The notes, issued by Woodside Finance, a wholly owned subsidiary of Woodside Petroleum Ltd., rank equally with all other senior unsecured debt of the issuer.

The notes are guaranteed by Woodside Petroleum and its wholly owned subsidiary, Woodside Energy Ltd.

The proceeds will be used to repay upcoming debt maturities, pay down outstanding balances on existing facilities and for general corporate purposes, the agency said.

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