First Turkish media firm rated for corporate governance

ISS Corporate Services, the corporate governance research house, has awarded Hürriyet an 8.0 out of 10.0 rating for its corporate governance. ISS is a subsidiary of the London-based RiskMetrics Group. This is the first rating ISS has awarded a Turkish print media institution. Justin Reynolds, director at ISS, told the Turkish Daily News that ISS makes the research on the basis of thorough evaluation of four areas of corporate governance. “We assess the rights and duties of shareholders, the firm's commitment to shareholder value, transparency and corporate governance disclosure as well as accountability, i.e. board structure and the way it functions,” he said.The rating is based on the corporate governance regulations issued by Turkey's Capital Markets Board (SPK) in July 2003. Companies that get a rating of 7.0 or above out of 10 from ISS Corporate Services can be included in the Corporate Governance Index of Istanbul Stock Exchange (IMKB).“

Report is available at official website of Hurriyet