Telus Corp. (BBB+/Stable/--) has released its financial and operating guidance for 2002, which was slightly below expectations primarily due to the effect of recent regulatory decisions. The announcement will not affect Standard&Poor's ratings on the company. Revenue is expected to increase between 4% and 6% to C$7.5 billion to C$7.6 billion from about C$7.2 billion in 2001, while EBITDA growth should remain essentially flat. At 3.3 times debt to EBITDA for the quarter ended Sept. 30, 2001, financial measures remain weak for the rating. Despite expected capital expenditures of about C$2.1 billion to C$2.2 billion in 2002, Standard&Poor's expects Telus will maintain its prudent approach to capital allocation. The ratings are buoyed by a strong business
