Portland, Ore.-based aerospace products and metal manufacturer Precision Castparts Corp.'s credit ratios are fairly stable, as solid operational performance has offset the assumption of new debt to fund acquisitions. The company has used a significant amount of commercial paper in recent quarters, resulting in weakening liquidity. We are affirming our long-term 'A-' corporate credit rating on the aerospace supplier. The long-term rating outlook is stable, reflecting our expectations of relatively steady credit ratios, as earnings growth offsets the higher debt to fund acquisitions and share repurchases. We are placing the 'A-1' short-term corporate credit rating on CreditWatch with negative implications, indicating that we may lower the rating if commercial paper remains high. On March 26, 2015, Standard&Poor's Ratings
