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TGC-1

February 11, 2011

Standard & Poor's affirms GAMMA rating of TGC-1 at GAMMA-5

Standard & Poor's Governance Services affirmed its Governance, Accountability, Management Metrics and Analysis (GAMMA) score of JSC TGC-1 at the level of GAMMA-5.

The overall GAMMA score is the result of four component scores ranging from a low of 1 to a high of 10. After the revision Standard & Poor's assigned the following scores:

- Shareholder influence - 4+ (unchanged);

- Shareholder rights - 5+ (unchanged);

- Transparency, audit and ERM - 5 (unchanged);

- Board effectiveness, strategic process and incentives - 5 (unchanged).

 

 

 

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