ANALYSIS FINANCIAL AND NON FINANCIAL FACTORS AFFECTING DEBT RATING

Authors

  • Jerry Ibrahim Movic Indonesia School of Economics (STIESIA), Surabaya, Indonesia
  • Naila Khoridatuz Zahro Indonesia School of Economics (STIESIA), Surabaya, Indonesia
  • Amelia Helga Cahyani Indonesia School of Economics (STIESIA), Surabaya, Indonesia
  • Lailatul Amanah Indonesia School of Economics (STIESIA), Surabaya, Indonesia

DOI:

https://doi.org/10.24034/icobuss.v5i1.753

Abstract

Bonds are an important form of funding for companies to improve their operations, therefore the issuance of corporate bond securities has increased year after year. This study aims to examine the influence of financial and non-financial factors on debt ratings. Financial factors are measured by financial risk and profitability, while non-financial factors are measured by ESGRisk. The sample used in this study were companies that issued bonds and received bond ratings and had ESGRisk scores. From the sample selection, 62 companies were selected. Data analysis used ordinal regression analysis techniques with the help of SPSS version 26. The results showed that financial risk had no effect on debt ratings, while profitability and ESGRisk had a positive effect on debt ratings.

Downloads

Published

2025-12-17

How to Cite

Movic, J. I., Zahro, N. K., Cahyani, A. H., & Amanah, L. (2025). ANALYSIS FINANCIAL AND NON FINANCIAL FACTORS AFFECTING DEBT RATING. International Conference of Business and Social Sciences, 5(1), 1109–1118. https://doi.org/10.24034/icobuss.v5i1.753

Issue

2025: 5th International Conference on Business and Social Sciences

Section

International Conference of Business and Social Sciences