NEW YORK (Standard&Poor's) Aug. 2, 2007--Standard&Poor's Ratings Services today raised its long-term corporate credit rating on Precision Castparts Corp. to 'BBB+' from 'BBB'. The outlook is stable. At the same time, we affirmed our 'A-2' short-term corporate credit rating on the company. About $875 million of debt was outstanding on April 1, 2007. "The upgrade reflects materially improved credit protection measures, benefiting from solid profitability and cash flow generation, debt reduction, enhanced market positions, and generally favorable market conditions," said Standard&Poor's credit analyst Roman Szuper. The ratings on Portland, Ore.-based Precision Castparts are supported by the firm's leading niche positions in most of its markets, some business diversity, efficient operations, and a good financial
