Press releases | Archive 2005
RBC assigned A-class corporate governance ratingRBC assigned A-class corporate governance rating
RBC has considerably improved its standing and has climbed to the rating's top group (in July 2004, the company's corporate governance received a "B++" rating). The A-class rating was also assigned to four telecommunications companies: OAO Rostelecom, OAO North-West Telecom, OAO Uralsvyazinform and OAO CenterTelecom.
"The high quality rating of our corporate governance is good news not only for us but also for our present and potential partners," RBC Chairman and CEO German Kaplun said. "We hope the increase in the rating will contribute to further growth in the company's investment attractiveness."
The A-class rating is assigned to companies with a high level of corporate governance that observe the requirements of Russian law and follow most recommendations of the Corporate Governance Code. Such a high rating is granted to companies with no risks of shareholders` rights violation, no unfair action by the executive bodies and not presenting inadequate information as of the date of review by experts. In the opinion of the authors of the rating, the general level of A-class companies is sufficient to attract funds from conservative portfolio investors.
The national rating of corporate governance is prepared by RID-Expert RA analysts quarterly by comparing corporate governance practices of each participating joint-stock company with norms stipulated in Russian law, recommendations of the Corporate Governance Code and modern international standards formulated by portfolio investors and organizations representing their interests. The rating is an integral estimation of four groups of indicators: shareholders' rights, performance of governing and supervisory bodies, information disclosure, observance of the interests of other interested parties and corporate social responsibility. Information presented by joint-stock companies in questionnaires and received by RID-Expert RA experts from publicly available sources is used to prepare the rating of corporate governance.