S&P lifts Schlumberger to AA-

Standard & Poor's said it raised its corporate credit rating on Schlumberger Ltd. to AA- from A+ and its short-term rating to A-1+ from A-1.

All related issue-level ratings on the company's debt were also raised by one notch in conjunction with the upgrade.

The outlook is stable.

S&P said it bases the upgrade on its assessment of Schlumberger's competitive advantage and absolute profitability, which it views as superior to peers' and which are key considerations in its characterization of the company's business risk as excellent.

Further supporting the excellent business risk assessment is Schlumberger's leading position in the global oilfield markets, substantial geographic diversification, broad and technologically complex product and service offerings and excellent relationships with the large oil companies.

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