S&P affirms Constellation Brands

Standard & Poor’s said it affirmed all ratings on Constellation Brands Inc., including the BB+ corporate credit rating. The outlook is stable.

The ratings affirmation with a stable outlook reflects S&P’s opinion that the Ballast Point acquisition will not materially impact the company’s steady deleveraging trend, including the likelihood that debt to EBITDA will approach 3.5x over the next 18 to 24 months compared with S&P’s pro forma estimates of about 4.3x for the acquisition.

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