NY -- Standard&Poor's CreditWire 12/18/95 -- Standard&Poor's affirms its single-`A' senior debt rating on American Brands Inc., as well as its single-`A' preferred stock and `A-1' commercial paper ratings, following the company's announcement of its agreement to buy Cobra Golf Inc. for approximately $700 million. About $1.6 billion of total debt is outstanding. The largely debt-financed acquisition of Cobra is in keeping with American Brands' announced intention earlier this year to apply a portion of the estimated $2 billion of after-tax proceeds from the sale of its domestic tobacco and life insurance units to strategic acquisitions, which, over time, will help replace the cash flow streams from its divested businesses. However, the Cobra golf acquisition will
