Precision Castparts Corp. plans to issue $2 billion of unsecured notes. The company plans to use the proceeds from this issuance to pay down its commercial paper borrowings, prefund an upcoming debt maturity, and for other corporate purposes. We are affirming our 'A-/A-1' long- and short-term ratings on Precision Castparts Corp. and are removing our 'A-1' short-term rating on the company from CreditWatch negative. The outlook is stable. At the same time, we are assigning our 'A-' issue-level rating to the company's proposed note issuance. The stable outlook reflects our expectations that Precision's credit ratios should improve as its earnings growth offsets the increased debt to fund acquisitions and share repurchases. On June 1, 2015, Standard&Poor's Ratings Services
