Precision Castparts Corp. has exceptionally strong credit protection measures and liquidity. The company's primary markets, especially commercial aerospace, have begun to stabilize. We are raising our corporate credit rating (CCR) on Precision Castparts to 'A-/A-1' from 'BBB+/A-2'; the outlook is stable. We expect Precision Castparts' financial profile to remain appropriate for the ratings despite ongoing acquisition activity and market cyclicality. On Aug. 26, 2010, Standard&Poor's Ratings Services raised its ratings, including the long-term CCR to 'A-' from 'BBB+' and short-term corporate credit rating to 'A-1' from 'A-2', on Precision Castparts Corp. The outlook is stable. The upgrades reflect our expectations that Portland, Ore.-based Precision Castparts' credit protection measures and liquidity, which are currently exceptionally strong with a funds
