Rollercoaster week for Bahrain debt, but GCC offers lifeline

The Kingdom of Bahrain’s five year CDS spread has plummeted as investors’ fears of the country’s inability to meet the repayment of its $750m November 2018 sukuk began to recede after a statement of support from Saudi Arabia, Kuwait and the United Arab Emirates. But analysts and syndicate officials are being clear that this is only the first step to Bahrain regaining access to the capital markets.