S&P assigns Constellation Brands notes BB+

Standard & Poor's said it assigned BB+ issue level and 3 recovery ratings to Constellation Brands' proposed $400 million senior unsecured notes due 2022.

At the same time, the agency said it affirmed the ratings on Constellation Brands, including the BB+ corporate credit rating. The outlook is stable.

The agency said the ratings on Constellation Brands reflect the company's "satisfactory" business risk profile and "significant" financial risk profile.

"We expect Constellation Brands' financial performance will be maintained despite lingering weak macroeconomic conditions, and its credit measures will remain within or near levels consistent with a significant financial risk profile," said S&P credit analyst Jean Stout in a news release.

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