TORONTO (Standard&Poor's) Nov. 21, 2013—Standard&Poor's Ratings Services' 'BBB+' rating on western Canada-based Telus Corp.'s C$800 million senior note offering (comprising two tranches) reflects the company's "strong" business risk profile and an "intermediate" financial risk profile. We expect proceeds from the debt issuance will be used to repay about C$290 million of commercial paper outstanding, if regulatory approval is obtained, about C$240 million to fund the acquisition of 100% of Public Mobile Inc., and for general corporate purposes. The impact from the increased leverage is modest and within our expectations for the ratings on the company. Standard&Poor's has reviewed its ratings on Telus, which it labeled as "under criteria observation" (UCO), after the publishing of
