NEW YORK, March 30 (Reuters) - Debt protection costs for General Motors and finance unit GMAC rose on Monday after the United States rejected rescues for GM and Chrysler and forced out GM's CEO, rekindling concern the automakers could go bankrupt. GM's five year credit default swaps rose to an upfront payment of 79.5 percent the sum insured plus 500 basis points a year from 77 percent on Friday, according to Phoenix Partners Group. That means it would cost $7.9 million to insure $10 ...
Premium Content (PAID Subscription Required)
"GM, GMAC credit protection costs climb on CEO ouster" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.