TORONTO (Standard&Poor's CreditWire) Sept. 19, 2000--Standard&Poor's today assigned its triple-'B'-plus rating to Telus Corp.'s proposed C$7.7 billion bank loan. Standard&Poor's also assigned its triple-'B'-plus corporate credit rating to the company. The outlook is stable. At the same time, Standard&Poor's assigned its triple-'B'-plus corporate credit and senior unsecured debt ratings to Clearnet Communications Inc.The outlook is stable. Proceeds from the Telus offering will be used for financing the acquisition of Clearnet, refinancing some of the existing debt at Telus and Clearnet, and for general corporate purposes. The ratings reflect Telus' favorable business position as Canada's leading wireless operator following its acquisition of Clearnet and as the dominant provider of telecommunications services in Western
