On July 15, 2005, Standard&Poor's Ratings Services raised its corporate credit ratings on Precision Castparts Corp. to 'BBB/A-2' from 'BBB-/A-3'. The outlook is stable. About $850 million of debt is outstanding. The upgrade reflects the company's materially improved financial profile, stemming from stronger earnings and debt reduction The ratings on Portland, Ore.-based Precision Castparts are supported by its leading niche positions in most of its markets, some business diversity, efficient operations, and a good overall financial profile. The ratings also take into account the highly cyclical nature of core markets and potential for additional acquisitions. Precision Castparts is a manufacturer of complex metal components and products, and the leader in large structural investment castings, airfoil castings, and forged
