Constellation debt protection costs soar

NEW YORK, Sept 16 (Reuters) - The cost to insure the debt of Constellation Energy Group (CEG.N) soared 60 percent on Tuesday to a record high after an analyst said in a report that banks may pull its credit lines.

Credit default swaps on Constellation's debt jumped to 478 basis points, or $478,000 per year to insure $10 million in debt for five years, from 304 basis points on Monday, according to Markit Intraday.

The company's swaps weakened on Monday on concerns about its exposure to Lehman Brothers LEH.N. Constellation said late on Monday that Lehman's bankruptcy will not have a material adverse effect on the company or its subsidiaries individually or collectively. (Reporting by Karen Brettell; Editing by James Dalgleish)