Yeah except it seems woodside needed to shore up its balance...

Yeah except it seems woodside needed to shore up its balance sheet and it seems the bean counters aren't excited about a debt funded acquisition....

The stable outlook reflects our view that Woodside would maintain its FFO-to-debt ratio above 45% while the company pursues its growth opportunities over the next two to three years. We also expect Woodside to generate a discretionary cash flow-to-debt ratio of more than 15% over the period.

We could lower the rating if Woodside is unable to maintain FFO-to-debt above 45% over the next two years.
This could occur if:

• oil prices were sustained at levels lower than our base case and the company were unable to counter the effects through remedial actions;
• the company pursued a large debt-funded acquisition to the detriment of credit metrics;

www.newswit.com/.fin/2018-02-14/e81d5f5012617fc9c0b5c708597d50cd/
Cheers billdah