NEW YORK (Standard&Poor's) May 28, 2002--Standard&Poor's said today that it revised its rating outlook on beverage-alcohol producer Constellation Brands Inc. to stable from negative, reflecting improvement in the company's credit measures, bringing them more in line with the rating category. At the same time, Standard&Poor's has affirmed its double-'B' corporate credit and senior unsecured debt ratings, as well as its single-'B'-plus subordinated debt rating on Fairport, N.Y.-based Constellation. About $1.43 billion total debt was outstanding at Feb. 28, 2002. "Standard&Poor's expects Constellation Brands to sustain credit measures appropriate for existing ratings, despite the company's somewhat aggressive acquisition strategy," commented Standard&Poor's credit analyst Nicole Delz Lynch. Constellation made almost $1.5 billion
