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April 17, 2003 — (WEB HOST INDUSTRY REVIEW) — Moody?s Investor Service on Wednesday changed the rating outlook for TELUS Corporation (telus.com) from negative to stable.
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The action was prompted by improvements to the company?s cash flow, a strengthening of the company?s balance sheet, successful execution of an operational efficiency program and significant improvement in TELUS Mobility?s profit margin.
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The company?s free cash flow improved from negative C$1.5 billion in 2001 to approximately negative $425 million in 2002. Free cash flow is expected to turn positive in 2003 and to exceed positive $500 million in 2004.
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Headquartered in Vancouver, TELUS Corporation is Canada?s second largest telecommunications company, offering local, long distance, data and wireless services. Its Web hosting division delivers a wide range of hosting solutions to the enterprise market, including shared hosting, managed hosting and colocation. Web hosting customers are housed in TELUS? state of the art data centers which operate in Toronto, Montreal, Calgary and Vancouver.
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