Our 'A-' corporate credit rating on Precision Castparts Corp. is derived from: Our anchor of 'a', based on our "strong" business risk and "modest" financial risk profile assessments for the company. This combination of "strong" business risk and "modest" financial risk has two possible anchor outcomes: 'a' and 'a+'. We selected the 'a' anchor because Precision Castparts' business risk profile is at the weaker end of our "strong" assessment, compared with those of its 'A+' rated peers. No other modifiers were used to arrive at this outcome. Leading positions in niche markets for aerospace forgings, castings, and fasteners Strong profit margins due to the company's ability to effectively manage costs, improve operating efficiency, and successfully integrate acquisitions Exposure to cyclical
