...- U.S.-based oil and gas exploration and production (E&P) company Range Resources Corp. reduced it debt and completed a refinancing, which has improved its maturity profile. - Additionally, we have revised our crude oil price assumptions to $55 per barrel (/bbl) for the remainder of 2021 and 2022, up from $45/bbl previously, which will support an improvement in its credit measures over the next two years. - Therefore, we are revising our outlook on Range Resources to positive from negative and affirming our 'B' issuer credit rating. - At the same time, we are affirming our 'B+' issue-level rating on the company's unsecured notes. Our '2' recovery rating remains unchanged. - The positive outlook on Range reflects our increased commodity price assumptions, which lead us to anticipate that it will improve its profitability and credit measures and potentially generate material free cash flow. Specifically, we could raise our rating on the company if it uses excess cash flow to reduce its absolute...
