SOURCE: Itera International Group of Companies

February 12, 2013 06:00 ET

ITERA International Group of Companies Awarded With A+ Credibility Rating

ITERA International Group of Companies Has Received an A+ Credibility Rating on a National Scale -- the Latest in a Long Series of Accolades for the Corporation

MOSCOW--(Marketwire - Feb 12, 2013) - The past several weeks have been good ones for ITERA International Group of Companies, abounding in awards and accolades. The company celebrated its 20th Anniversary in December, and since then has received numerous industry honors and government recognitions, many of them praising ITERA for its dedication to philanthropy. Now, ITERA International Group of Companies has received another major honor -- an A+ Credibility Rating.

The rating is given by the National Ratings Agency (NRA), a nationwide bureau that seeks to evaluate companies and to protect consumers through the implementation of a tiered corporate credibility ratings system. The NRA has awarded an A+ rating, to ITERA Group Ltd., one of the holding companies of ITERA International Group of Companies. The award recognizes credibility on a national level.

The NRA has explained that the issue of an A+ rating denotes a high level of credibility that a company can possess, and indicates that the company is entitled to trust on the part of consumers as well as other companies within the same industry.

The receipt of the A+ rating illustrates how far ITERA International Group of Companies has come as a corporation. Previously, only one branch of ITERA -- the ITERA Oil and Gas Company, LLC -- was rated; it received an AA rating, which denotes a very high credibility rating on a second-tier level.

ITERA Group Ltd. was founded in 2004 for the consolidation, management, and distribution of finances throughout ITERA International Group of Companies. The principal beneficial owner of ITERA Group Ltd., the founder and the controlling owner of ITERA International Group of Companies is Igor Makarov.

ITERA International Group of Companies has responded to the A+ rating with a brief comment to the press, noting its gratitude in what has been a season of honors. "All of us at ITERA International Group of Companies are thankful for this vote of confidence, and for the recognition of how much we strive to present our company and our services as trustworthy and reputable," the company's press statement says.

ITERA International Group of Companies is one of Russia's foremost providers of natural gas services.

ABOUT:

ITERA International Group of Companies is a vertically integrated corporation founded in 1992, with dozens of enterprises in the NIS, Baltic States, Western Europe, Asia, and the United States.

Since 1994, ITERA's main business activity has been natural gas. Starting in 1998, Itera Oil and Gas Company, within the Itera International Group of Companies, has been expanding its own gas production in the Yamal-Nenets region of Russia and has invested over $2 billion into infrastructure. Overall, over 250 billion cubic meters of gas were produced at ITERA's gas fields. The total volume of gas sold by ITERA has surpassed 600 billion cubic meters. ITERA's strategic business developments are also reaching into development, biochemical, and power generating segments.

The American division of the company, ITERA USA, was founded in 1992. In addition to their work in the energy industry, ITERA USA has also found success in timber, real estate, and more. Itera always welcomes new ideas, and strives to build bridges between peoples and cultures through the implementation of quality energy solutions.