Hedge Funds
Inc., the rural broadband provider that recently lost a legal battle with hedge fund Aurelius Capital Management, is likely to file for bankruptcy by mid-March, a Citibank NA report said Wednesday. In a research note, Citibank analysts David Phipps and Tony Deng said last week’s judgment in favor of Aurelius will likely trigger defaults on the company’s debt next month. ruled Feb. 15 that Windstream defaulted on its debt when it spun off its fiber-optic business, and the judge also awarded bondholder Aurelius more than $310 million in principal plus interest.

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