Leading positions in niche markets, Efficient operations and solid profitability, and Very strong financial profile. Core markets ( commercial aerospace and industrial gas turbine) are cyclical and currently weak, and Acquisitions are an important part of growth strategy. The ratings on Portland, Ore.-based Precision Castparts Corp. are supported by the company's leading niche positions in most of its markets, some business diversity, efficient operations, and a very strong financial profile. The ratings also take into account the highly cyclical nature of the company's core markets and likelihood of additional acquisitions. Precision Castparts recently announced that it plans to acquire privately held Carlton Forge Works (not rated) and related entities for $850 million. Carlton Forge manufactures seamless rolled rings for aerospace
