Moody's views Schlumberger positively

Moody's Investors Service said it changed the outlook of Schlumberger Ltd. to positive from stable and affirmed Schlumberger's A2 issuer rating and the A2 senior unsecured ratings of its guaranteed subsidiaries. The agency also concurrently revised the outlook of Schlumberger Holdings Corp. to positive from stable and affirmed its Baa1 issuer rating and its Baa1 senior unsecured ratings.

"Schlumberger is poised to generate higher earnings and cash flows in 2023-24 that should enable it to continue to reduce debt, improve its leverage metrics and further strengthen the financial resilience of its business," said Elena Nadtotchi, a Moody's senior vice president, in a press release.

"We also expect that the company will maintain its balanced and prudent approach in capital allocation, with it targeting to distribute at least 50% of its operating cash flow after capital investment to shareholders as the business continues to recover," Nadtotchi added.

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