PENGARUH FAKTOR KEUANGAN DAN NON KEUANGAN TERHADAP PERINGKAT SUKUK

Syariah capital market is developed in order to accommodate the needs of Muslims in Indonesia who want to invest in capital market products in accordance with the basic principles of sharia. One of the investment instruments of sharia capital market products is syariah bond (sukuk). An investor who will invest in sukuk will definitely pay attention to the rating of the sukuk. Sukuk rating is very helpful for investors who want to invest in bonds, so investors will know the return earned and the risks borne. The sukuk rating is valued based on several assessments such as the company's financial performance, the age of the bonds and many other factors. This study aims to examine the effect of liquidity, leverage, profitability, secure, and maturity on sukuk ratings. The object of this study is a company registered in the Jakarta Islamic Index and rated by PT PEFINDO during the period 2011-2016. Sampling method was done by pruposive sampling. The number of companies sampled in this study are 11 companies with a period of observation for six years so it was selected as many as 66 samples. The data used are secondary data in the form of sample company financial statements. Data analysis method used in this research is logistic regression. From the research results can be concluded that the variable secure and maturity have a significant positive effect on the rating of sukuk. Liquidity, leverage, and profitability variables have no ef fect on sukuk ratings. The accuracy of predictive model data is 84.85 percent and close to 100 percent prediction accuracy