Bahrain CDS up almost 40 bps to 231.5 on Dubai-CMA

LONDON | Thu Nov 26, 2009 4:19am EST

LONDON Nov 26 (Reuters) - Bahrain's five-year credit default swapsjumped 37 basis points to 231.5 bps on Thursday as regional sovereigns suffered the fallout from Dubai's move to restructure the debt of a major conglomerate, CDS monitor CMA said.

Dubai CDS are being quoted as high as 500-550 bps some traders said, while the cost of insuring Qatari and Abu Dhabi debt has also surged in the wake of the news.

(Reporting by Sujata Rao; editing by Natsuko Waki)

((sujata.rao@thomsonreuters.com; +44 207 542 6176; Reuters Messaging: sujata.rao.reuters.com@reuters.net))
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