The ratings on Precision Castparts Corp. are supported by the firm's leading niche positions in most of its markets, some business diversity, efficient operations, and a good financial profile. The ratings also take into account the highly cyclical nature of core markets and likelihood of additional acquisitions. Portland, Ore.-based Precision Castparts is a manufacturer of complex metal components and products, and the leader in large structural investment castings, airfoil castings, and forged components used primarily in jet aircraft engines. Similar components are manufactured for industrial gas turbines that are used to generate power. The company is also a major producer of fasteners and specialized metal products to the aerospace, automotive, and general industrial markets. Several acquisitions and internal growth in
