TELUS Corporation: Rating Report

On April 15, 2019, DBRS Limited (DBRS) confirmed the ratings of TELUS Corporation (TELUS or the Company) and TELUS Communications Inc. as noted above. The confirmations are supported by steady operating income growth and stable financial performance. The ratings continue to be supported by TELUS's well-entrenched market position and proven track record of profitable growth, while also reflecting intensifying competition, risks associated with regulatory and technological change as well as the industry’s capital-intensive nature.