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Woodside’s financial exposure: S&P Global Ratings downgraded Australian energy firm Woodside Energy’s credit outlook from “stable” to “negative” Wednesday after the company committed to a $17.5 billion liquefied natural gas project in Louisiana. According to a Reuters report, the downgrade stems from concerns about Woodside’s substantial exposure to market risks, as the company has not significantly reduced its offtake exposure, which S&P says undermines its ratings buffer. S&P forecasts Woodside’s funds from operations to debt ratio will hover around 50% in the coming years, but anticipated cash flow reductions due to project ramp-ups are expected to leave the company with limited flexibility to manage potential drops in oil prices or cost overruns. Reuters has the full story.
Termination notice: Louisiana is experiencing substantial impacts from federal budget cuts under Elon Musk’s DOGE-led restructuring, with the termination of nearly $400 million in AmeriCorps grants nationwide. As Politico reports, this move has led to the loss of 13 programs in Louisiana, impacting services related to housing, disaster recovery, and veteran support. State officials, including Lt. Gov. Billy Nungesser, have expressed strong opposition, urging the administration to reconsider. Politico has the full story.
Ticket to jail: Unauthorized public camping could soon become a criminal offense in Louisiana, and those experiencing homelessness may find themselves in front of a judge as part of a new court system designed to manage them through the justice system. As Louisiana Illuminator reports, that’s the premise of Senate Bill 196, which advanced out of the Louisiana Senate Judiciary Committee on Wednesday. The legislation, sponsored by Rep. Robert Owen, R-Slidell, would make unauthorized public camping a jailable offense—up to six months and a $500 fine for the first conviction, with repeat offenses carrying penalties of up to two years in jail and a $1,000 fine. It would also establish specialized “homelessness courts” to divert offenders into mandatory programs. Louisiana Illuminator has the full story.
