On September 7, 2009, Standard & Poor's raised its GAMMA score (“Analysis and appraisal of the efficiency of corporate governance, accountability and management”) for TransContainer from GAMMA-5 to GAMMA-6. S&P regards the upgrade as reflecting the continuing advancement and efficiency of the Russian company’s corporate governance structures.

TransContainer’s system of corporate governance is seen by S&P as marked by positive characteristics, such as the company’s higher level of transparency and the independent directors’ active role on the Board of Directors’ Audit Committee. Another positive factor is that TransContainer’s principal shareholder, Russian Railways, is willing to help improve its subsidiary’s corporate governance and maintain a constructive relationship with the minority shareholders.

The overall GAMMA score of TransContainer is the result of four component scores of 1 (low) to 10 (high).

• Ownership structure and shareholder influence -- 5+
• Shareholder rights -- 6+
• Transparency, audit, and risk management -- 5+ (up from 5)
• Board effectiveness, strategic process, and incentives 6 (up from 5)