The stable outlook reflects S&P Global Ratings' expectations that Precision Castparts Corp.'s credit ratios will remain appropriate for the rating in 2019, with funds from operations (FFO) to debt of 55%-60%. We foresee moderate revenue gains driven by growth on new commercial aerospace programs, offset by production cuts on some older aircraft models, pricing pressures, and weak industrial gas turbine (IGT) demand. We also expect the company to continue to pursue acquisitions, with any excess cash sent up to its owner in the absence of attractive acquisition targets. We could lower the rating if a slowdown in the currently strong commercial aerospace market, another downturn in the oil and gas market, or, less likely, integration problems with future acquisitions results
