NEW YORK (Standard&Poor's) Nov. 19, 2015--Standard&Poor's Ratings Services today assigned its 'BB+' debt rating and '3' recovery rating to Constellation Brands Inc.'s proposed $400 million senior unsecured notes due 2025 (actual amounts and maturity dates to be finalized at the close of the transaction). The '3' recovery rating indicates our expectation for meaningful recovery (the high end of the 50%-70% range) in the event of a payment default. Recovery ratings on unsecured debt issued by companies rated 'BB-' or higher are generally capped at '3' to account for the greater risk of recovery prospects being impaired from expected incremental debt issuance prior to default. The company will issue the notes under its shelf. We expect the
