Our ratings on Victor, N.Y.-based Constellation Brands Inc. reflect the company's acquisitive growth strategy, leveraged financial profile, significant debt burden, and participation in the highly competitive beverage alcohol markets. Constellation Brands benefits from its historically strong cash generation, from a diverse portfolio of consumer brands, and ongoing debt reduction efforts. Constellation Brands is a leading international producer and marketer of beverage alcohol. It is the largest wine company in the world and the largest multicategory supplier of wine, spirits, and imported beer through its Crown Imports LLC joint venture in the U.S. The company is also a leading producer and exporter of wine from Australia and New Zealand, and the largest producer and marketer of wine in Canada, and a
