RPT-UPDATE 2-ResCap, GMAC debt protection costs plunge

Newswire

(Repeats to additional subscribers) (Adds ResCap bond quote) NEW YORK, Nov 21 (Reuters) - The cost to insure the debt of Residential Capital LLC and its parent, finance company GMAC LLC, plunged after GMAC said it will ensure the mortgage unit is able to meet its debt covenants and was also exploring alternatives for the troubled lender. GMAC said it is exploring alternatives including sell off parts of ResCap's operations or purchasing a non-mortgage company and merging it with the ...

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