NEW YORK (Standard&Poor's) Nov. 10, 2011--Standard&Poor's Ratings Services today assigned its 'A-1' short-term commercial paper rating to Schlumberger Holdings Corp.'s (SHC) proposed $3.0 billion 4(2) commercial paper program. The outlook on the company remains stable. Houston-based SHC is a wholly owned indirect subsidiary of Schlumberger Ltd. (A+/Stable/A-1). SHC is a holding company which holds subsidiaries Schlumberger Technology Corp. (STC) (A+/Stable/A-1) and Smith International (not rated). These two subsidiaries contain Schlumberger Ltd.'s U.S. oilfield services operations. Commercial paper issued under the program is guaranteed by STC. (For the full credit rationale, refer to the research update published on Aug. 11, 2011, on RatingsDirect). RELATED RESEARCH AND CRITERIA Corporate Ratings Criteria 2008, published April 15, 2008. RATINGS LIST
