Moody's downgrades Bristow's PDR to D-PD upon Chapter-11 filing
Rating Action: Moody's downgrades Bristow's PDR to D-PD upon Chapter-11 filing. Global Credit Research- 13 May 2019. Approximately $750 million of rated debt affected.Bristow Group is an industrial aviation services provider. The company has transportation operations in the North Sea, Nigeria and the U.S. Gulf of Mexico, and in most of the other major offshore energy producing regions of the world. The company provides private sector search and rescue (SAR) services in Australia, Canada, Norway, Russia, Trinidad and the U.S. The company provides public sector SAR services in the U.K. on behalf of the Maritime & Coastguard Agency. The company also provides regional fixed wing scheduled and charter services in the U.K., Nigeria and Australia through its consolidated affiliates, Eastern Airways International Limited and Capiteq Limited, operating under the name of Airnorth, respectively.
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