Little transparency in Russia, says S&P

  • Story by: Daniel McAllister
  • Magazine: InvestmentAdviser
  • Published Monday , November 17, 2008

Russia’s top companies are not doing enough to improve transparency and disclosure, according to S&P Governance Services.

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Its Transparency index, representing the average score for the largest Russian public companies, was 56 per cent in 2008, crawling up from 54.6 per cent. S&P’s governance analyst Elana Pastoukhova said the increase was “insignificant” and showed only minor progress to the major issues Russian firms faced. The highest score was achieved by CTC Media, with 78 per cent, up from 75 per cent last year.

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