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  • Air Astana GAMMA Score Affirmed at '6'

    29 July 2011

    Standard & Poor's Governance Services has affirmed its governance, accountability, management, metrics, and analysis (GAMMA) score of 'GAMMA 6' on Air Astana JSC, the national airline of Kazakhstan which is one of the highest in Kazakhstan for today.

    Subsequent to completion of the annual review, the GAMMA score on Air Astana was withdrawn. The withdrawal of the GAMMA score is made at Standard & Poor's initiative. It reflects our decision to cease providing stand-alone governance scores, while continuing to incorporate governance analysis in our global and local scale credit ratings.

    "Although not a public company, Air Astana has a thoroughly crafted governance structure that guides the relationship between the founder shareholders," said Standard & Poor's governance analyst Oleg Shvyrkov.

    Our assessment of Air Astana's overall GAMMA score was the result of four component scores ranging from a low of 1 to a high of 10.

    • Shareholder influence: '6+'
    • Shareholder rights: '5'
    • Transparency, audit and enterprise risk management: '6'
    • Board effectiveness, strategic process and incentives: '6'

    Governance Analysts:

    Oleg Shvyrkov, Moscow (7) 495-783-4045

    Ekaterina Marushkevich, Moscow (7) 495-783-4044