On May 29, 2003, Standard&Poor's Ratings Services affirmed its 'BBB' long-term corporate credit rating on Western Canada-based telecommunications company Telus Corp. (Telus). The outlook is negative. At the same time, Standard&Poor's affirmed the 'BBB' long-term corporate credit ratings on Telus' subsidiaries, Telus Communications Inc. (TCI) and Telus Communications (Quebec) Inc. The outlooks on both companies are negative. In addition, the short-term corporate credit rating on Telus was removed due to discontinuation of the company's CP program and will be reassigned if the program is reinstated in the future. Furthermore, the issue rating on Telus Communications (Quebec) Inc.'s C$30 million series U first mortgage bonds maturing in 2010 was raised to 'A-' from 'BBB+'. The rating revision
