Diversified telecom operator servicing more than 12 million customer connections Solid market position in the Canadian wireless services sector Leading wireline operator in western Canada and eastern Quebec Favorable mix of growth versus legacy revenue, and healthy revenue diversity among business and residential customers Strong franchise with broad distribution, solid brand(s), and quad-play capability Solid cash-generating ability and conservative financial policies Increasing competitive risks in wireless Ongoing losses in wireline voice from cable telephony and wireless substitution Strong competition from cable operators for residential broadband and voice services The ratings on Vancouver-based Telus Corp., Canada's second-largest, integrated telecommunications provider, reflect Standard&Poor's Ratings Services' view of the company's strong business risk profile, supported by its solid market position in
