NY -- Standard&Poor's CreditWire 11/26/97 -- Standard&Poor's today revised its outlook on Canandaigua Brands, Inc. (Canandaigua) to positive from negative, reflecting improved operating performance and the stabilization of as well as improved outlook for grape costs. Standard&Poor's also assigned its preliminary double-'B' senior unsecured debt and single-'B'-plus subordinated debt ratings to the company's $300 million Rule 415 mixed shelf registration. Also, Standard&Poor's affirmed its double-'B' corporate credit and single-'B' plus subordinated debt ratings on the company. About $368 million of total debt was outstanding at August 31, 1997. Ratings reflect Canandaigua's strong cash generation from a diverse portfolio of alcoholic beverage products and moderate financial policies, offset, in part, by the company's
