Abstract:
The risk profile, which consists of one of them, namely credit risk,
is a factor that affects the BUMD Regional Development Bank's
bond rating, so a guarantee is needed to convince investors to be
involved in the sale and purchase of BUMD BPD bonds. The
purpose of this research is to analyze whether the guarantee is able
to moderate credit risk (Non Performing Loan / NPL) on bond
ratings. Determination of the sample in this study using purposive
sampling. Based on the results of the purposive sample
determination, this study uses 19 samples of BUMD BPD
throughout Indonesia that have issued bonds and have ratings at
PEFINDO. This research tool uses SPSS 23. Meanwhile, the data
analysis uses descriptive statistics and Moderated Regression
Analysis (MRA) to examine the relationship between the
independent variable and the dependent variable. The results of this
study indicate that guarantees are unable to moderate the effect of
Non-Performing Loans (NPLs) on bond ratings. This is due to
problems related to the transfer of assets which are constrained by
law and bureaucratic technical problems
