(Editor's Note: This bulletin, published earlier today, misstated Telus Corp.'s previous targeted savings range. A corrected version follows.) Standard&Poor's Ratings Services today said Telus Corp.'s (BBB/Negative/A-2) solid third-quarter results would not affect the ratings or outlook on the company. Telus' wireless performance and tighter cost management helped to achieve third-quarter free operating cash flow of C$194 million (after work-force reduction costs), despite lower revenues of C$1.8 billion due, in part, to recent regulatory decisions. The company posted industry-leading operating metrics in wireless, including blended monthly churn of 1.69% versus 2.17% last year, as a result of improved network coverage and client contracting. Telus' financial risk profile, although relatively aggressive, has improved to lease-adjusted total debt-to-EBITDA of 3.7 times
