Constellation Brands Inc.'s Senior Unsecured Notes Assigned 'BBB' Rating - S&P Global Ratings’ Credit Research

Constellation Brands Inc.'s Senior Unsecured Notes Assigned 'BBB' Rating

Constellation Brands Inc.'s Senior Unsecured Notes Assigned 'BBB' Rating - S&P Global Ratings’ Credit Research
Constellation Brands Inc.'s Senior Unsecured Notes Assigned 'BBB' Rating
Published Apr 27, 2023
3 pages (1429 words) — Published Apr 27, 2023
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) April 27, 2023-- S&P Global Ratings today assigned its 'BBB' issue-level rating to Constellation Brands Inc.'s proposed senior unsecured notes (final amounts and maturities to be determined). The company intends to use the net proceeds for general corporate purposes, including to repay outstanding balances under the company's delayed draw term loan maturing 2025. We view this transaction as neutral for leverage. The 'BBB' issuer credit rating with a stable outlook remains unchanged. Debt to EBITDA at fiscal year-end 2023 (ended. Feb. 28, 2023) increased to 3.7x compared with 3.1x at fiscal year-end 2022 primarily because of still elevated share repurchases totaling $1.7 billion last year and a debt-financed $1.5 billion payment to convert the company's

  
Brief Excerpt:

...- General Criteria: Group Rating Methodology, July 1, 2019 - Criteria | Corporates | General: Corporate Methodology: Ratios And Adjustments, April 1, 2019 - Criteria | Corporates | General: Reflecting Subordination Risk In Corporate Issue Ratings, March 28, 2018 - General Criteria: Methodology For Linking Long-Term And Short-Term Ratings, April 7, 2017...

  
Report Type:

Ratings Action

Ticker
STZ
Issuer
Constellation Brands Inc.
GICS
Distillers & Vintners (30201020)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Tear Sheet: Constellation Brands Inc. – 2023/10/10 – US$ 500.00

Tear Sheet: Constellation Brands Inc. – 2024/01/05 – US$ 500.00

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Tear Sheet: Constellation Brands Inc. – 2025/01/13 – US$ 500.00

Constellation Brands Inc. – 2023/04/26 – US$ 500.00

Constellation Brands Inc. Full Analysis – 2022/04/29 – US$ 500.00

Constellation Brands Inc. – 2022/04/29 – US$ 500.00

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Constellation Brands Inc.'s Senior Unsecured Notes Assigned 'BBB' Rating" Apr 27, 2023. Alacra Store. May 09, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Constellation-Brands-Inc-s-Senior-Unsecured-Notes-Assigned-BBB-Rating-2979308>
  
APA:
S&P Global Ratings’ Credit Research. (). Constellation Brands Inc.'s Senior Unsecured Notes Assigned 'BBB' Rating Apr 27, 2023. New York, NY: Alacra Store. Retrieved May 09, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Constellation-Brands-Inc-s-Senior-Unsecured-Notes-Assigned-BBB-Rating-2979308>
  
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