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Standard & Poor’s Rating Agency upgraded Corporate Governance Score on ТМК

Standard & Poor’s International Rating Agency announced the rise of its corporate governance score (CGS) on ТМК . The Governance Services of the agency raised the score on TMK according to the international scale from CGS-5+ up to the CGS-6+ level. At the same time Standard & Poor\'s raised its score on the Russian national scale from CGS-5,9 to CGS-6,7.

In the opinion of Standard & Poor’s, raise of TMK scores reflects consistent conscious efforts of the Board of Directors, management and the major shareholder of the Company aimed at development of efficient corporate governance mechanisms.

According to Standard & Poor’s, strength of the corporate governance system of ТМК include balanced membership of the efficient Board of Directors with a significant degree of independency, high level of Company transparency as well as considerable scope of shareholders’ rights in accordance with the requirements of Russian legislation and requirements of regulatory authorities of Great Britain.