Home Credit Ratings and Research S&P Global Ratings’ Credit Research Constellation Brands Inc.

Summary: Constellation Brands Inc.

Published May 29, 2014

2019 words — Published May 29, 2014

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Abstract:

Increased scale following the Crown transaction; Diverse portfolio of well-known brands across alcoholic beverage segments; Competitive nature of the highly regulated alcoholic beverage industry; and Limited geographic diversity. High debt levels as a result of the Crown transaction; and Core ratios are expected to remain within the indicative ratio ranges for an "aggressive" financial risk profile. The stable outlook reflects our expectation that Constellation Brands Inc. will maintain its financial performance and its credit measures will be within the indicative ratio ranges for an "aggressive" financial risk profile. This includes leverage, as measured by debt to EBITDA, in the 4x to 5x range and funds from operations (FFO) to debt in the 12% to 20% range. We believe this is

Brief Excerpt:

RESEARCH Summary: Constellation Brands Inc. Publication date: 29-May-2014 Primary Credit Analyst: Jean C Stout, New York (1) 212-438-7865; jean.stout@standardandpoors.com Secondary Contact: Chris Johnson, CFA, New York (1) 212-438-1433;...

Report Type:

Summary

Ticker

STZ

Issuer

Constellation Brands Inc.

GICS

Distillers & Vintners (30201020)

Sector

Global Issuers

Country

United States

Region

United States

Format:

HTML

Bulletin: Constellation Brands Inc.'s Glass Sourcing Strategy And Increased Capacity Have No Impact On Ratings – 2014/10/02 – Free

Constellation Brands Inc.'s Shelf Registration Assigned Preliminary 'BB+' Rating – 2014/10/14 – US$ 150.00

Constellation Brands Inc.'s Senior Unsecured Notes Assigned 'BB+' Rating (Recovery: 3) – 2014/10/20 – US$ 150.00

Bulletin: Constellation Brands Inc. Announces Dividend Payment; Ratings Are Unaffected – 2015/04/09 – Free

Constellation Brands Inc.'s New Senior Credit Facility Rated 'BB+' (Recovery Rating: '3') – 2015/07/17 – US$ 150.00

Summary: Constellation Brands Inc. – 2014/05/09 – US$ 225.00

Summary: Constellation Brands Inc. – 2013/06/06 – US$ 225.00

Constellation Brands Inc.'s Modelo/Crown Financing Assigned 'BB+' Ratings (Recovery: '3') – 2013/04/30 – US$ 150.00

Constellation Brands Inc. 'BB+' Rating Affirmed Following Announcement On Revised Agreement With Anheuser-Busch InBev – 2013/02/14 – US$ 150.00

Research Update: Constellation Brands Inc. 'BB+' Rating Affirmed Following Announcement On Revised Agreement With Anheuser-Busch InBev – 2013/02/14 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Summary: Constellation Brands Inc." May 29, 2014. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Constellation-Brands-Inc-1323603>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Constellation Brands Inc. May 29, 2014. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Constellation-Brands-Inc-1323603>

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