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[$$] Helicopter Transport Company PHI Files for Bankruptcy

Inc. filed for bankruptcy protection to address $500 million in unsecured maturing debt, after Fitch Ratings downgraded the business’s credit further into junk territory. PHI’s international operations, which include Mexico, Canada, Australia, and New Zealand, aren’t included in the bankruptcy filing. “PHI remains in discussions with the holders of its $500 million in unsecured notes and their advisors to consider alternatives to address PHI’s outstanding debt obligations,” the company said.