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PHI, Inc. -- Moody's downgrades PHI's CFR to Caa1; outlook negative

PHI, Inc. is a Louisiana based provider of helicopter transportation services primarily to the offshore oil and gas industry in the Gulf of Mexico. For ratings issued on a program, series or category/class of debt, this announcement provides certain regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series or category/class of debt or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody's rating practices. For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the credit rating action on the support provider and in relation to each particular credit rating action for securities that derive their credit ratings from the support provider's credit rating.