DBRS Assigns A (low) Rating to TELUS’s $700 million Notes Issue

DBRS has today assigned a rating of A (low) to TELUS Corporation’s (TELUS or the Company) issuance of $700 million 4.95% May 2014 Senior Unsecured Notes. The trend is Stable.

This debt issuance was initiated by TELUS today by way of a short form prospectus under its $3.0 billion universal shelf prospectus dated August 30, 2007. The issuance is expected to close on or about May 20, 2009.

DBRS expects TELUS to use the proceeds from this notes issue for general corporate purposes including refinancing existing debt obligations.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating Telecommunications, which can be found on our website under Methodologies.

This is a Corporate (Telecommunications) rating.