Moody’s gives Constellation Brands notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to the five-year senior unsecured notes planned by Constellation Brands, Inc.

“Constellation's Baa3 senior unsecured rating and stable outlook are not affected because the issuance provides additional flexibility to address near-term maturities in calendar 2024, the company continues to generate strong free cash flow, and credit metrics remain within Moody's expectations for the rating,” the agency said in a statement.

The proceeds will be used for general corporate purposes.

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