Moody's may cut Woodside

Moody's Investors Service said it placed the Baa1 issuer rating of Woodside Petroleum Ltd. and Baa1 senior unsecured rating of Woodside Finance Ltd. on review for possible downgrade.

The review follows news that Woodside will experience further delays and cost overruns in regards to its large Pluto liquefied natural gas (LNG) project, Moody's said.

The delay in production and the higher capital costs will hinder the company's ability to improve its credit metrics to levels more appropriate for the Baa1 rating, the agency said.

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