NEW YORK (Standard&Poor's) Dec. 7, 2004--Standard&Poor's Ratings Services affirmed its ratings on beverage alcohol producer and distributor Constellation Brands Inc., including its 'BB' corporate credit rating. All ratings were removed from CreditWatch where they were placed on Oct. 19, 2004, following the company's announcement of its plans to acquire (in an all-cash offer) California wine producer, The Robert Mondavi Corp., for approximately $1.4 billion, including Mondavi debt. At the same time, Standard&Poor's assigned its 'BB' rating to Constellation's new $2.9 billion senior secured credit facilities. The ratings are based on preliminary offering statements and are subject to review upon final documentation. Ratings for the existing bank facility will be withdrawn upon closing of the
