KEMAMPUAN RASIO KEUANGAN DALAM MEMPREDIKSI PERINGKAT OBLIGASI (PT KASNIC CREDIT RATING)

Abstract

Bond rating is a guide to investor who intends to buy bond because that rating gives informative statement and giving signal about company's debt failure possibility. The purposes of this research are getting more empirical evidendence about the ability of financial ratios in forming model that used to predict bond rating. The leSults show that discriminant analysis results are significant ratios. It used 73 manufactures companies with 52 bond issuances from 2004 to 2005. The bond predicting models have accuracy 96,2 % for descriminant analisis. It means the model can be used as tool in predicting bond rating for Indonesian manufacturer company in Indonesia. Keywords!: bond rating, financial ratios (leverage, likuidity, soNability, profitability dan produktivity), descriminant analysis (MDA) and logistic regression.