NEW YORK (Standard&Poor's CreditWire) June 11, 1999--Standard&Poor's today lowered its ratings on Precision Castparts Corp. (see list below). Standard&Poor's has also withdrawn its ratings on Wyman-Gordon Co. (see list below). All ratings are removed from CreditWatch, where they were placed on May 17, 1999 with negative implications on Precision Castparts and with positive implications on Wyman-Gordon. The outlook on Precision Castparts is now negative. At the same time, Standard&Poor's assigned its triple-'B'-minus rating to Precision Castparts' new $950 million credit facility, in the process of being finalized, and withdrew its triple-'B' rating on the existing $400 million credit facility. The new bank facility is being arranged to finance the proposed acquisition of
