Fitch affirms Telus

Fitch Ratings said it affirmed Telus Corp.'s issuer default rating at BBB+, senior unsecured notes at BBB+ and senior unsecured credit facility at BBB+, and Telus Communications Inc.'s issuer default rating at BBB+ and senior unsecured debentures at BBB+.

The outlook is stable.

Ratings reflect the stability of the company's diversified operations, supported by the strong and growing cash flow at its mobility segment as well as its leading market position as a local operator in western Canada and eastern Quebec, according to the agency.

The wireless segment is key to the company's stability as its growth provides an important offset to the pressure the company is experiencing in its local and long-distance operations, the agency noted.

The issuer has a net debt-to-EBITDA ratio of 1.9x for the 12 months ending Sept. 30.

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