Dampak Rasio Keuangan Terhadap Peringkat Obligasi pada Perusahaan yang Terdaftar di Bursa Efek Indonesia

Abstract

This research is motivated by the importance rating of the bonds to investors before purchasing the bonds, since bond ratings are useful in signaling the probability of failure of the debt of a company. This study also motivated by differences in the results of research that has been done previously by other researchers. This study aimed to examine the effect of financial ratios, namely liquidity, profitability, and leverage on the bond rating. The population in this study are all various bond non finance companies listed on the Indonesia Stock Exchange (IDX) in 2011 until 2013. While the sample was determined by the method of purposive sampling to obtain a sample of 15 companies. Types of data used secondary data obtained from the Indonesia Capital Market Directory, www.idx.co.id, and www.pefindo.co.id. The method of analysis used is multiple linear regression. The results of regression showed that the leverage had negative influence toward to the bond rating. The third influence of independent variables on the dependent variable by 19%. It is necessary for the addition of variables in future studies.