Leading positions in niche markets; Satisfactory overall credit profile; and Efficient operations. About half of revenues derived from the weak commercial aircraft market; Challenging conditions in most other businesses; and Potential for selected acquisitions. The ratings on Portland, Ore.-based Precision Castparts Corp. are based on its leading niche positions in most of its markets, considerable business diversity, efficient operations, and a satisfactory overall credit profile. Ratings also acknowledge currently depressed conditions in the commercial aircraft market. No major acquisitions or share repurchases are factored into the ratings. The company is a manufacturer of complex metal components and products, and the leader in large structural investment castings, airfoil castings, and forged components used primarily in jet aircraft engines. The aerospace market
