Summary: Range Resources Corp.

Large portfolio of oil and gas reserves resulting in significant potential for future growth. Geographic concentration in the Marcellus Shale. More heavily weighted to natural gas, which limits profitability at current prices. Participation in the competitive, capital-intensive and highly cyclical oil and gas industry. Improved credit metrics as a result of recently executed asset sales and an improvement in underlying fundamentals. Moderate hedging helps to mitigate cash flow volatility. S&P Global Ratings' stable outlook on Range Resources Corp. reflects our expectation that the company's credit measures will be consistent with those required for the rating over the next two years. Specifically this includes projected funds from operations (FFO)-to-debt above 20% and debt to EBITDA under 4x. We could lower the

...Business Risk: Satisfactory Financial Risk: Significant + Large portfolio of oil and gas reserves resulting in significant potential for future growth. + Geographic concentration in the Marcellus Shale. + More heavily weighted to natural gas, which limits profitability at current prices. + Participation in the competitive, capital-intensive and highly cyclical oil and gas industry. + Improved credit metrics as a result of recently executed asset sales and an improvement in underlying fundamentals. + Moderate hedging helps to mitigate cash flow volatility....

Summary