Pengaruh Cash Flow To Debt Ratio, Return On Asset, Current Ratio, Debt To Asset Ratio, dan Efisiensi Terhadap Peringkat Obligasi pada Perusahaan Sektor Keuangan yang Terdaftar di Bursa Efek Indonesia Tahun 2017-2020

Abstract

This study aims to examine the effect of Cash Flow To Debt To Ratio, Return On Assets, Current Ratio, Debt Equity Ratio, and Efficiency on Bond Ratings in Financial Sector Companies Listed on the Indonesia Stock Exchange for 2017-2020. From several previous studies regarding bond ratings, different results were found. Therefore, further research is needed to examine several factors that affect bond ratings. This study uses secondary data which can be accessed through the official website of the Indonesia Stock Exchange (IDX), namely www.idx.co.id. The population of this study consists of 21 financial sector companies. The sampling method used purposive sampling method and obtained as many as 20 companies for 4 years of observation which produced 80 observational data. The data analysis technique used is descriptive statistical analysis and ordinal logistic regression analysis with the help of statistical software, namely IBM SPSS 25. Based on the results of the tests that have been carried out, it is known that the partial return on assets, current ratio, and debt to asset ratio have a positive effect on the rating bonds, while efficiency has a negatif effect on bond ratings, while the cash flow to debt ratio has no effect on bond ratings. And simultaneously cash flow to debt to ratio, return on assets, current ratio, debt equity ratio, and efficiency towards bond ratings in financial sector companies listed on the Indonesia Stock Exchange in 2017-2020.