On Nov. 15, 2005, Standard&Poor's Ratings Services assigned its 'BB' rating to Constellation Brands Inc.'s proposed $4.1 billion senior secured credit facilities. The bank loan rating and accompanying analysis are based on preliminary documentation and subject to review once final documentation has been received. Existing ratings on the company, including its 'BB' corporate credit rating, remain on CreditWatch with negative implications, where they were placed on Sept. 28, 2005, following the company's announcement that it had made an unsolicited offer to buy Vincor International Inc. (unrated) for C$31.00 per share, plus the assumption of debt, which represents an all cash transaction value of C$1.4 billion (about $1.2 billion). The transaction is subject to regulatory and shareholder approvals. Vincor
