OREANDA-NEWS. December 29, 2010. Expert RA Rating Agency has confirmed the Corporate Governance Rating for CenterTelecom OJSC at 8 (Developed Corporate Governance Practice).

The 8 level reflects the company's low corporate governance risks: it follows Russian legislative requirements with regard to corporate governance, basic recommendations of the Russian Code of Corporate Conduct and some recommendations of international corporate governance practice. CenterTelecom's corporate governance system is being developed quickly due to the company's managers and shareholders' strategic initiatives. The company has been named one of Russia's corporate governance leaders on basis of the results of monitoring held by the agency.

The specialists of Expert RA Rating Agency point out that CenterTelecom has high level of social responsibility; in summer 2010 it issued a Social Report. The agency also recognized the high level of financial and non-financial information disclosed by CenterTelecom by means of its placement on the company's web site, publication in its annual and quarter reports and other documents.

Vaagn Martirosyan, General Director, CenterTelecom, said: "CenterTelecom realizes an importance of the company's transparency in the course of making decisions on operating activities. We strive to comply with best international standards, and it is supported by high levels of corporate governance assigned by rating agencies to our company."