NEW YORK (Standard&Poor's) May 7, 2007--Standard&Poor's Ratings Services said today that there would be no effect on the ratings or outlook of Constellation Brands Inc. (BB-/Stable/--) following the announcement that it has entered into an accelerated share repurchase transaction with Citibank N.A. to repurchase a minimum of 16.9 million shares of Constellation Brands Class A common stock for $421.1 million on May 8, 2007. The company has already repurchased 3.5 million shares of its Class A common stock at a cost of $78.9 million through open market purchases. These transactions will fully utilize Constellation Brands' recently authorized $500 million share repurchase program. Our March 1, 2007, downgrade had already factored into the current ratings the expectation
