OREANDA-NEWS. On July 27, 2007 Parex Asset Management Ukraine, an asset management and pension fund administration company has become the first Ukrainian company to receive corporate governance rating by the agency “Credit Rating”, which assigns ratings according to the National Rating scale. No other Ukrainian-based enterprise in any economic sector of the country has achieved such a rating, reported the press-centre of Parex.

The corporate governance rating is defined as RCGuaB, which signifies that corporate governance in PAM Ukraine stands at a high level. Risks, related to the corporate governance level on a national scale are considered insignificant.

The rating evaluates the system of management in an organization as well as control over its activity. Efficient management systems must ensure the protection of a company’s assets from purposeful or occasional misuse; provide business risk management; and have in place a suitable structure to allow the successful implementation of its business strategy. Corporate governance targets must provide responsible management and control over the company’s activity, aimed at increasing its value.

Denis Moscenko, the managing director of Parex Asset Management Ukraine comments: “We are very proud to be the first company to receive this corporate governance rating in the Ukraine. The rating confirms that the professional methodology and techniques, that we have implemented over many years on the asset management markets of the Baltic States, Eastern Europe and Russia, are now being successfully used in Ukraine. We are sure that this rating will only increase the level of trust in PAM Ukraine and Ukrainian asset management market in general”.