NEW YORK (Standard&Poor's) March 1, 2007--Standard&Poor's Ratings Services said today it lowered its ratings on Fairport, N.Y.-based Constellation Brands Inc., including its corporate credit and bank loan ratings to 'BB-' from 'BB'. The outlook is stable. "The rating actions follow Constellation Brands' announcement that the company's Board of Directors has authorized the repurchase of up to $500 million of its common stock, and reflects our opinion that the company will continue to maintain a highly leveraged capital structure over the near to intermediate term," said Standard&Poor's credit analyst Mark Salierno. Constellation Brands has the world's largest wine business. It is the second-largest U.S. supplier of wines and is the largest multicategory (wine, spirits, and
