Leading positions in niche markets; Efficient operations; and Good overall financial profile. Core markets—commercial aerospace and industrial gas turbine—are highly cyclical and experienced sharp declines in the past (industry conditions are currently generally favorable); and Acquisitions are an important part of growth strategy. The ratings on Portland, Ore.-based Precision Castparts Corp. are supported by its leading niche positions in most of its markets, some business diversity, efficient operations, and a good overall financial profile. The ratings also take into account the highly cyclical nature of core markets and potential for additional acquisitions. Precision Castparts 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
