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Bristow Group Inc. -- Moody's downgrades Bristow's CFR to Caa3

Moody's Investors Service, ("Moody's") downgraded Bristow Group Inc.'s (Bristow) Corporate Family Rating (CFR) to Caa3 from Caa2, Probability of Default Rating (PDR) to Caa3-PD from Caa2-PD, senior secured rating to Caa2 from Caa1, and senior unsecured notes to Ca from Caa3. "The downgrade follows Bristow's decision on April 15 to skip interest payment on its 6.25% senior unsecured notes due October 2022, as it evaluates various strategic alternatives to strengthen the capital structure and shore up liquidity," said Sajjad Alam, Moody's Senior Analyst.