Yeah, this'll be Colour Management.
Open the PDF up in Acrobat. Pull down the 'View' menu and toggle the 'Proof Colours' on and off. Notice how the black density changes?
This is because, in actual fact, 100k in printed matter never LOOKS solid black. Solid black is achieved adding other colours to the black to produce a 'Rich black'. So it is previewing it correctly, in a way. But you'll find it is 100k if a repro shop seperated the PDF into CMYK. Your proofing printer may print it greyish.
Photoshop rasterisation will only work correctly if you rasterise to CMYK rather than RGB. Greyscale rasterisation isn't much good is it takes a RGB view of the file first.
If you do rastherise as Greyscale, just clip the darkest area to 100k using the black eyedropper in 'Levels'.
Hope I haven't confused matters any more!