Victor, N.Y.-based Constellation Brands Inc.'s financial profile and credit measures have improved, in part due to its debt reduction efforts and despite lingering weak global macroeconomic conditions. We have upgraded Constellation Brands ratings one notch, including its corporate credit rating to 'BB+'. The outlook is stable because we expect Constellation Brands' credit measures to remain near current levels in the near-to-intermediate term despite continued sluggish macroeconomic conditions. On May 25, 2011, Standard&Poor's Ratings Service raised its ratings on Constellation Brands, including the corporate credit rating on the company to 'BB+' from 'BB'. The outlook is stable. The upgrade reflects Constellation Brands' improved financial profile, including stronger adjusted credit measures. The company has continued to focus on debt reduction,
