This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Moody's Raises Precision Castparts Ratings

NEW YORK (AP) â¿¿ Moody's Investors Service on Tuesday raised its senior unsecured rating for Precision Castparts Corp. to "A2" from "A3," citing the metal parts maker's strong profitability and free cash flow generation, limited debt and favorable prospects.

The ratings service also boosted the Portland, Ore.-based company's short-term rating to "Prime-1" from "Prime-2." The outlook on both ratings is stable.

Moody's noted that Precision Castparts has closed on 13 acquisitions totaling more than $2.5 billion over the past 18 months. While it assumed some debt, most of the needed financing came from the company's internal sources.

The ratings service added that it expects the company's volumes to expand in fiscal 2013 and beyond, as production of certain kinds of aircraft increases.

Shares of Precision Castparts rose 12 cents to $159.21 in afternoon trading.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,971.84 -63.09 -0.35%
S&P 500 2,100.76 +0.36 0.02%
NASDAQ 5,014.0480 +19.4460 0.39%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs