Moody’s changes Range Resources to positive

Moody's Investors Service said it changed Range Resources Corp.’s outlook to positive from stable.

The Ba1 corporate family, Ba2 subordinated notes and SGL-2 speculative grade liquidity ratings were affirmed.

"The positive outlook reflects Range's improving leverage position and growing commitment to an investment grade rating," Moody's vice president and senior credit officer Stuart Miller said in a news release. "The company's scale and operating efficiency support a higher rating, but its operating concentration in the Marcellus region creates a high degree of exposure to the successful build-out of midstream infrastructure by third parties."

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