Constellation Brands' credit rating upgraded on improving credit profile. - Morningstar Credit Research

Constellation Brands' credit rating upgraded on improving credit profile.

Constellation Brands' credit rating upgraded on improving credit profile. - Morningstar Credit Research
Constellation Brands' credit rating upgraded on improving credit profile.
Published Dec 27, 2016
12 pages — Published Dec 27, 2016
Price US$ 350.00  |  Buy this Report Now

About This Report

  
Brief Excerpt:

...Our rating is supported by expanding operating earnings, heightened cash flows from operations, or CFFO, and an improving Distance to Default score. The rating is constrained by the company s poor Cash Flow Cushion score due to sizable debt maturities, its acquisitiveness, and above average leverage for the rating category. Constellation has a narrow economic moat, which was assigned by Morningstar, Inc. The moat is attributed to its intangible brand assets as owner of four of the top 10 best- selling import beer brands in the United States and its control of about 50% of the U.S. imported beer market. Constellation owns the right to distribute Corona and Modelo in the U.S., and these brands represent 8% of the U.S. beer market and provide the company with a strong competitive position due to favorable category growth and demographics trends. Approximately 55% of Constellation s revenue and 71% of operating income is derived from its beer segment, with the remainder from wines and spirits....

  
Source:
Document ID
0C00000APV_20161227_CREDIT
Ticker
Primary ISIN
Primary Sedol
Company
Format:
PDF Adobe Acrobat
Buy Now

Morningstar Credit Research—With an emphasis on long-term competitive dynamics, future cash flows versus financial commitments, and scenario analysis, Morningstar offers a unique perspective in debt research.

About the Author


Cite this Report

  
MLA:
Morningstar Credit Research. "Constellation Brands' credit rating upgraded on improving credit profile." Dec 27, 2016. Alacra Store. Jun 26, 2019. <http://www.alacrastore.com/storecontent/Morningstar-Credit-Research/Constellation-Brands-credit-rating-upgraded-on-improving-credit-profile-2137-33796>
  
APA:
Morningstar Credit Research. (2016). Constellation Brands' credit rating upgraded on improving credit profile. Dec 27, 2016. New York, NY: Alacra Store. Retrieved Jun 26, 2019 from <http://www.alacrastore.com/storecontent/Morningstar-Credit-Research/Constellation-Brands-credit-rating-upgraded-on-improving-credit-profile-2137-33796>
  
US$ 350.00
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.