NEW YORK (S&P Global Ratings) May 2, 2022--S&P Global Ratings today assigned its 'BBB' issue-level rating to Constellation Brands Inc.'s proposed senior unsecured notes (final amounts and maturities to be determined). We view this transaction as neutral for leverage, which was 3.1x for the fiscal year ended Feb. 28, 2022. The company intends to use the net proceeds either for general corporate purposes or to purchase its 2023 notes, for which there is an outstanding tender offer. The 'BBB' issuer credit rating with a stable outlook remains unchanged. Constellation Brands produces, imports, and markets branded beer, wine, and spirits with production in the U.S., Mexico, New Zealand, and Italy. Key brands include Corona, Robert Mondavi, and Svedka Vodka. Constellation's beer
