S&P: Constellation Brands unchanged

Standard & Poor's said that there would be no effect on the ratings or outlook of Constellation Brands Inc. (BB/negative) following the announcement that it has reached an agreement to acquire the Svedka Vodka brand and related business for $384 million.

The transaction, subject to customary regulatory approvals and other closing conditions, will be financed with debt under Constellation Brands' senior credit facility and is expected to close on or about March 1, the agency said.

S&P added that the acquisition will enhance the company's premium spirits offerings and provide a platform for expansion.

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