ResCap, GMAC debt protection costs plunge


NEW YORK, Nov 21 (Reuters) - The cost to insure the debt of Residential Capital LLC and its parent, finance company GMAC LLC, fell after GMAC said it will ensure that ResCap is able to meet its debt covenants and said it was exploring selling parts of the troubled mortgage unit. Credit default swaps on ResCap, which have been trading as a percentage, fell around 10 percentage points to 31 percent the amount insured, or $3.1 million to insure $10 million in debt for five years, plus annual ...

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