OREANDA-NEWS. March 22, 2010. Standard & Poor’s (S&P) affirmed and then at EuroChem’s request withdrew its Governance, Accountability, Management Metrics and Analysis (GAMMA) score of 6+. EuroChem maintains its commitment to developing and implementing best practices in corporate governance within the company: this is based on the company’s view that strong corporate governance helps to ensure sustainable growth in the long term and the belief that there is a firm relationship between strong corporate governance, performance and competitiveness on global capital markets.

The decision to withdraw the GAMMA score was taken by EuroChem because the company believes that it has achieved a satisfactory level of corporate governance for a non-publicly listed entity, and that it has sufficient resources internally to continue to refine governance systems and structures further, if needed.

EuroChem CEO Dmitry Strezhnev said: “We are grateful for the contribution from S&P’s corporate governance rating service in guiding the development of EuroChem’s corporate governance systems. The independent and professional evaluation by S&P analysts has been very helpful in developing our approach to effective oversight, accountability and transparency during the five years that we have worked with them.”