Brand diversification; Strong cash flow; and More-moderate financial policy. High debt levels; Working-capital intensive; and The competitive nature of the alcoholic beverage industry. Standard&Poor's Ratings Services' ratings on Victor, N.Y.-based Constellation Brands Inc. reflect our "satisfactory" business risk profile assessment (as our criteria define the term), which benefits from the company's historically strong cash generation from a diverse portfolio of consumer brands, and our "significant" financial risk profile assessment, characterized by the company's more-disciplined financial policy. This is despite its participation in the highly competitive beverage alcohol markets and the company's leveraged financial profile. Constellation Brands is a producer and marketer of beverage alcohol. The company is a leading premium wine company with good market positions in each
