Moody's: Schlumberger Prime-1

Moody's Investors Service said it assigned a Prime-1 rating to Schlumberger Holdings Corp. for issuance of commercial paper under a new authorized $3 billion program. The company was formed in 2010 as a wholly owned subsidiary of Schlumberger Ltd. serving as an intermediate holding company for Schlumberger Technology and Smith International Inc. (SII, not rated), which together constitute the bulk of Schlumberger Ltd.'s US operations.

The outlook is stable.

SHC's Prime-1 rating is based on STC's unconditional guarantee of the commercial paper.

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