November 20, 2007 / 1:55 PM / 12 years ago

Fannie Mae's credit spreads widen 7.6 pct - Markit

NEW YORK, Nov 20 (Reuters) - Credit protection costs on Fannie Mae FNM.N rose about 7.6 percent on Tuesday, a day after its shares hit a 10-year low on worries about losses at the mortgage finance company.

The cost of protecting Fannie Mae’s debt with credit default swaps for five years rose about 4 basis points to about 58.75 basis points, or $58,750 a year for five years to protect $10 million of debt, according to Markit Intraday.

Reporting by Dena Aubin, Editing by Chizu Nomiyama

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