A general view shows the Bahrain Financial Harbour building in the capital Manama, on February 10, 2016.
AFP / MOHAMMED AL-SHAIKH
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Greylock Capital Management LLC, a hedge fund that holds the distressed bonds of Mozambique and Venezuela, says Bahrain is its next potential target.Bahrain will have to revive its financial fortunes to prevent its debt from slumping to distressed levels, according to Bashar Zakaria at the California Public Employees' Retirement System, the largest U.S. pension fund.Bahrain has enough net foreign assets to last it for up to three years, fueling concerns it may struggle to keep its currency's peg to the dollar, according to Bloomberg Economics.Bahrain's dollar-denominated bonds plummeted this year, with the debt maturing in 2029 touching 87.2 cents on the dollar.In November, Bloomberg News reported that Bahrain had asked Saudi Arabia, the UAE and Kuwait for financial assistance.
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