S&P rates Schlumberger notes A+

Standard & Poor's said it assigned an A+ senior unsecured debt rating to Schlumberger Investment SA's planned three-, five- and 10-year note offerings and to Schlumberger Norge AS's planned five-year note offering.

All of these notes will be fully and unconditionally guaranteed by Schlumberger Ltd. (A+/stable/A-1).

Proceeds will be used for general corporate purposes of the Schlumberger Group.

Ratings reflect the company's leading positions in the global oilfield markets, substantial geographic diversity, broad and technologically complex product and service offering, excellent relationships with the large oil companies and modest financial risk profile, the agency said.

Ratings also consider Schlumberger's participation in the highly cyclical and competitive oilfield services industry, the agency noted.

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