S&P affirms Range Resources

S&P said it affirmed its BB+ corporate credit rating on Range Resources Corp. The outlook remains stable.

The senior unsecured and subordinated issue-level ratings remain BB+. The recovery rating remains 3, indicating meaningful (50%-70%; estimated recovery: 65%, capped) recovery in the event of a default.

“The rating affirmation reflects our assessment that Range's financial leverage has improved from weak levels hit in 2016 because of higher natural gas price realizations and increased production,” said S&P credit analyst Ben Tsocanos in a news release.

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