NEW YORK (Standard&Poor's) April 4, 2006--Standard&Poor's Ratings Services affirmed its 'BB' corporate credit rating and other ratings on beverage alcohol producer and distributor Constellation Brands Inc. The outlook is negative. Fairport, N.Y.-based Constellation Brands had about $2.9 billion of debt outstanding at Nov. 30, 2005. The affirmation follows Constellation Brands' announcement that it has reached an agreement to acquire Vincor International Inc. for C$36.50 per share, plus the assumption of debt, which represents an all-cash transaction value of C$1.5 billion (about $1.3 billion). The transaction is subject to regulatory and shareholder approvals. The proposed acquisition will be funded with debt, as Constellation Brands has received commitments for an all-debt financing of the transaction. Vincor is Canada's
