NEW YORK (Standard&Poor's CreditWire) April 11, 2001--Standard&Poor's today affirmed its double-'B' corporate credit and senior unsecured debt ratings for Constellation Brands Inc. The company's single-'B'-plus subordinated debt rating is also affirmed. The rating outlook is negative. About $1.28 billion of total debt was outstanding at Nov. 30, 2000. The ratings affirmation follows Constellation's announcement of its intention to purchase Ravenswood Winery Inc., a leading California premium wine producer, for about $148 million plus the assumption of a small amount of debt through a combination of debt and equity financing. The addition of these red super-premium and ultra-premium, higher margin wines will further enhance Constellation's wine portfolio. The transaction will be financed with debt and equity, and
