Corporate Governance Score by international rating agency Standard & Poor's was inherited by JSC “TGC-1” from JSC “Lenenergo”. It was assigned to the Company for the first time in February of 2006. In 2009 TGC-1 adopted a new scoring system – GAMMA.
A company governance, accountability, management metrics, and analysis (GAMMA) score reflects the opinion of Standard & Poor’s Equity Research Services GAMMA department on the relative strength of a company’s corporate governance practices as an investor protection against potential governance-related losses or failure to create value.
Individual company governance practices and policies are measured against Standard & Poor’s corporate governance criteria, which are based on a synthesis of international codes, governance best practices and guidelines of good governance practice.
Companies with the same score have, in the opinion of Standard & Poor’s, similar company specific governance processes and practices overall, irrespective of the country of domicile. The scores do not address specific legal, regulatory and market environments, and the extent to which these support or hinder governance at the company level, a factor which may affect the overall assessment of the governance risks associated with an individual company.