NEW YORK, Aug 23 (Reuters) - Credit default swaps on GMAC tightened by about 93 basis points on Thursday, according to data from CMA DataVision.
The cost of protecting GMAC's debt for five years fell to about 487 basis points, or $487,000 a year for five years for every $10 million protected, down from about 580 basis points late on Wednesday, according to CMA DataVision data.