S&P praises transparence of RBC Information Systems

OAO RBC Information Systems is on the list of 14 most transparent Russian companies, the Standard and Poor's rating agency reported in its Russian transparency and disclosure survey 2004. As Juliya Kochetygova, director of Corporate Governance Services at the Moscow branch of Standard & Poor's, said, the average transparency level shown by major Russian companies grew from 34 percent in 2002 to 46 percent in 2004. The average information disclosure level advanced from 40 percent in 2003 to 46 percent in 2004.

The survey showed that Russian companies were developing corporate disclosure practices. 36 companies improved their indicators of information disclosure. The majority of Russian companies advanced from the weakest corporate disclosure levels. However, seven companies, and OAO RBC Information Systems among them, improved their indicators further although they showed higher than average disclosure levels before. The disclosure level of OAO RBC Information Systems was estimated at 59 percent.

The Standard and Poor's rating agency analyzed corporate governance practices exercised by 70 public companies in Russia.