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