|Bid||0.0000 x 1000|
|Ask||0.0000 x 1000|
|Day's Range||1.1300 - 1.3500|
|52 Week Range||1.1300 - 12.7800|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The air transportation provider to the medical and oil-and-gas industries filed for chapter 11 last Thursday, a day before $500 million in unsecured bonds came due. Judge Harlin DeWayne Hale in U.S. Bankruptcy Court in Dallas gave interim approval to several motions often considered routine, but the debut hearing, which began on Monday afternoon and carried over to Tuesday morning, was marked by company lawyers arguing with bondholders’ representatives about PHI’s financing and what the investors believe is the undue influence of a key shareholder. One is the September 2018 replacement of a $130 million asset-backed loan from Whitney Bank with a secured term loan provided by controlling shareholder and PHI Chief Executive Al Gonsoulin.
On a per-share basis, the Lafayette, Louisiana-based company said it had a loss of $6.70. Losses, adjusted for one-time gains and costs, were 30 cents per share. The helicopter transportation company serving ...
Inc. said its bankruptcy filing late Thursday will give it a “breathing spell” from $500 million in debt that came due Friday and that it continues to explore options to reorganize, including negotiating with bondholders. The Lafayette, La.-based company said cash on hand and a new $70 million term loan from Blue Torch Capital LLC will give it enough liquidity to continue operating. The closely held air transportation provider sought protection from creditors in U.S. Bankruptcy Court in Dallas after failed attempts to sell the business, refinance its debt and negotiate with bondholders.
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.
Inc. has been tight-lipped about how it plans to deal with $500 million in debt maturing Friday, prompting Fitch Ratings to downgrade the credit of the helicopter services business further into junk territory. The lower rating also reflects long-term competitive headwinds that PHI faces, as well as its inability to access the capital markets, Fitch said. If a default occurs, an additional downgrade is likely, Fitch said.
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The Lafayette, Louisiana-based company said it had a loss of 73 cents per share. The helicopter transportation company serving the oil and gas industry posted revenue of $168.8 million in the period. PHI ...
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.
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The Lafayette, Louisiana-based company said it had a loss of 45 cents per share. The helicopter transportation company serving the oil and gas industry posted revenue of $169.2 million in the period. PHI ...
Moody's Investors Service (Moody's) assigned a B3 rating to PHI, Inc.'s (PHI) proposed $500 million senior secured notes due 2023. Concurrently, Moody's upgraded PHI's Speculative Grade Liquidity Rating to SGL-3 from SGL-4. Following the repurchase and redemption, Moody's will withdraw its ratings on these senior unsecured notes.