TORONTO (Standard&Poor's) Dec. 1, 2009--Standard&Poor's Ratings Services today said it assigned its 'BBB+' debt rating to Vancouver-based Telus Corp.'s proposed C$1 billion 5.05% senior unsecured notes, Series CG, due Dec. 4, 2019. The notes are being issued under the company's C$4 billion short-form base shelf prospectus filed Sept. 3, 2009. Net proceeds from the offering will be used primarily to fund the early redemption on Dec. 31, 2009, of the US$583.5 million principal amount of the company's US$1.945 billion 8% notes outstanding due June 1, 2011, and for payments required to terminate cross-currency interest rate swaps associated with the notes; any excess will be used for general corporate purposes. "The 'BBB+' corporate credit rating and stable
