NEW YORK (Standard&Poor's CreditWire) Feb. 2, 2001-- Standard&Poor's today affirmed its double-'B' corporate credit and senior unsecured debt ratings for Constellation Brands Inc. The company's single-'B'-plus subordinated debt rating is also affirmed. The rating outlook is negative. About $1.28 billion of total debt was outstanding at Nov. 30, 2000. The ratings affirmation follows Constellation's announcement of its intention to purchase the assets of Turner Road Vintners, a division of Sebastiani Vineyards Inc., for about $295 million through a combination of debt and equity financing. The addition of these higher margin, premium wines will enhance Constellation's wine portfolio by filling in a gap with brands in the $4-$10 price per bottle at retail. Although the transaction will
