JCR-VIS Credit Rating Co Ltd (JCR-VIS) has assigned the corporate governance rating of 'CGR-7' to The General Tyre and Rubber Company of Pakistan Limited (GTR).
This rating is based on a scale ranging from CGR-1 (lowest) to CGR-10 (highest). The assigned rating denotes a 'moderately high level of corporate governance'.
This rating represents the first such announcement for an industrial enterprise in Pakistan and the very fact that the company opted for such a rating is a reflection of the emphasis being placed by it on the area of corporate governance.
The rating is based on a composite evaluation of the level of regulatory compliance, ownership structure, composition and operations of the Board of Directors and executive management, financial transparency, self-regulation and stakeholder relations.
Comments
Comments are closed.