S&P affirms Constellation

Standard & Poor's said it revised the outlook on Constellation Brands Inc. to positive from stable and affirmed its BB- corporate credit rating.

"The outlook revision reflects Constellation Brands' good operating performance and improved credit measures, as well as the expectation that the company will be able to maintain its improved financial profile, despite current weak economic conditions which could further slow overall demand for premium alcoholic beverages," S&P analyst Jean C. Stout said in a statement.

Ratings reflect the company's acquisitive growth strategy, leveraged financial profile, significant debt burden and participation in the highly competitive beverage alcohol markets, the agency said.

Leverage is about 4.5x.

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