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Moody's Affirms TELUS' Rating on Deal Announcement for LifeWorks

MT Newswires ·  {{timeTz}}

10:59 AM EDT, 06/20/2022 (MT Newswires) -- Moody's said Thursday it has affirmed TELUS Corp.'s (T.TO) Baa1 senior unsecured notes ratings, (P)Baa1 senior unsecured shelf rating, and Prime-2 (P-2) senior unsecured commercial paper rating.

The action follows the company's announced purchase of LifeWorks (LWRK.TO), a provider of technology-enabled services, for about $2.9 billion on an enterprise value basis. The outlook remains negative.

"The rating affirmation recognizes the company's good operating momentum, prudent network investments for future growth, and diversification in its business profile, while the negative outlook captures its higher than expected leverage", Peter Adu, Moody's vice president and senior credit officer, said in a statement.

The company's stock rose 0.07% on last look on Monday.

Price: 28.71, Change: +0.02, Percent Change: +0.07

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