14 November 2008
NLMK is ranked third in Russian companies transparency and disclosure ratings
NLMK has been ranked third in Standard & Poor’s 2008 annual transparency and disclosure survey conducted among 90 of Russia’s largest public companies.
NLMK is consistently improving its transparency and disclosure. Since 1998 NLMK has published financial statements in accordance with international standards and regularly discloses information in line with Russian and international requirements.
Anton Bazulev, Director of Investor and Government Relations at NLMK commented on this achievement: «The rating is testament to NLMK’s success in the implementation of international corporate reporting. In 2008 the Company significantly boosted its information disclosure in its timing and completeness in line with international requirements in its annual reports, on its corporate site and publications».
The survey is a joint analytical project of Standard & Poor’s and the Centre for Economic and Financial Research at Russian Economic School. It was sponsored by the RTS stock exchange. The survey analyzed only publicly available information. The methodology has 108 criteria to assess a company’s transparency related to operational, financial and corporate governance activities.