...NEW YORK (Standard & Poor's) May 7, 2015--Standard & Poor's Ratings Services said today that it assigned its '##+' issue-level rating and '3' recovery rating to Range Resources Corp.'s $500 million senior unsecured notes offering. The '3' recovery rating indicates our expectation for meaningful (50%-70%; high end of the range) recovery in the event of a payment default. We understand the company will use proceeds for general corporate purposes, including refinancing existing debt. The '##+' corporate credit rating and stable outlook on the company remain unchanged. The '##+' issue-level rating and '3' recovery rating on Range's subordinated notes also remains unchanged. The ratings on Range Resources reflect Standard & Poor's assessments of the company's business risk as "satisfactory" and financial risk as "significant." Our assessment of Range's business risk incorporates the benefits of its large scale operations in the Marcellus shale, its significant drilling inventory and resource...
