Lehman credit spreads soar to new record-Phoenix

NEW YORK, Sept 10 (Reuters) - The cost to protect Lehman Brothers LEH.N debt against default soared to a new record on Wednesday after the bank reported a $3.9 billion third-quarter loss, Phoenix Partners Group said.

Five-year credit default swaps on Lehman Brothers rose 135 basis points to a record 610 basis points on Wednesday, or $610,000 a year to protect $10 million of debt, according to Phoenix Partners Group data. (Reporting by Walden Siew; Editing by Tom Hals)