NEW YORK (Standard&Poor's) Feb. 17, 2006--Standard&Poor's Ratings Services said today that there would be no effect on Constellation Brands Inc. (BB/Negative/--) ratings or outlook following the company's announcement that it has increased the size of its share repurchase authorization to $100 million, accelerated its vesting of certain unvested stock options, and will take restructuring charges to reorganize its global wine business. The stock buyback program is primarily to mitigate the dilutive effect of stock option exercises and is expected to be funded with free cash flow, while the accelerated vesting is expected to reduce future earnings volatility. The restructuring plan will result in pre-tax charges of about $55 million, of which $39 million will be cash,
