OREANDA-NEWS. On 12 March 2008 Southern Telecommunications Company (“UTK”), the principal fixed-line telecommunications provider for Russia’s Southern Federal District, reported that within the framework of annual revision of corporate governance ratings Expert RA Rating Agency affirmed its “A” (or “7+” – according to numerical score) national rating of corporate governance assigned earlier to "Southern Telecommunications Company" PJSC.

According to the methodology of the national rating of corporate governance, rating “A” reflects rather high level of the Company’s corporate governance practice. The Company  does not break the requirements of the Russian legislation in the sphere of corporate management and follows the main recommendations of the Russia Code of corporate conduct. Risk associated with violation of shareholders’ rights, inefficient work of the Company’s governing bodies and  lack of information transparency are estimated as insignificant..

According to Expert RA analysts, corporate governance practice of "Southern Telecommunications Company" PJSC has been developing very quickly driven by strategic initiatives of the Company’s management and its shareholders. According to monitoring results, the Company has become one of the leaders in Russia with respect to corporate governance quality