MMK tops Russia’s transparency list
1 December 2010 (11:45)
OAO Magnitogorsk Iron & Steel Works (MMK) was rated second on Russia’s Top 90 companies list for the year 2010.
The information transparency research (on the basis of which this rating was compiled) was carried out through the joint efforts of Standard & Poor’s and CEFIR (the Center for Economic and Financial Research). The only data used in the research were those obtained through the open media sources. The methodology of the analysis was devised by Standard & Poor’s and comprised 110 criteria grouped along three main sections: a company’s ownership scheme and the stockholders’ rights, a company’s financial and operating data, and the composition and the working procedures of a company’s BOD and management.
This year, MMK’s transparency level was estimated at 80%, which is 2% better than a year earlier when the enterprise was rated third on the list. In 2008, MMK was only given the 13th position in the transparency rating.
The information transparency research (on the basis of which this rating was compiled) was carried out through the joint efforts of Standard & Poor’s and CEFIR (the Center for Economic and Financial Research). The only data used in the research were those obtained through the open media sources. The methodology of the analysis was devised by Standard & Poor’s and comprised 110 criteria grouped along three main sections: a company’s ownership scheme and the stockholders’ rights, a company’s financial and operating data, and the composition and the working procedures of a company’s BOD and management.
This year, MMK’s transparency level was estimated at 80%, which is 2% better than a year earlier when the enterprise was rated third on the list. In 2008, MMK was only given the 13th position in the transparency rating.
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