NEW YORK (Standard&Poor's) April 27, 2006--Standard&Poor's Ratings Services assigned its 'BB' rating to Constellation Brands Inc.'s proposed $3.5 billion senior secured credit facilities. The bank loan rating and accompanying analysis are based on preliminary documentation and subject to review once final documentation has been received. Existing ratings on the beverage alcohol producer and distributor, including its 'BB' corporate credit rating, were affirmed. Pro forma for the transaction, Fairport, the N.Y.-based company would have about $4.2 billion of debt outstanding. The outlook is negative. Net proceeds from the bank facilities will be used to finance the proposed Vincor International Inc. acquisition, refinance Constellation Brands' existing bank term debt, and provide for working capital and other general corporate
