Analisis Pengaruh Peringkat Kredit Nasional dan Internasional Terhadap Pemanfaatan Line of Credit Dengan Pandemi Covid-19 Sebagai Variabel Moderasi
NUR FADHILAH RAMADHANI, Bowo Setiyono, S.E., M.Com., Ph.D.,
2023 | Tesis | S2 Manajemen
This research aims to examine the impact of credit ratings on line of credit utilization with the Covid-19 pandemic crisis as a moderator. The sample in this study is non-financial firms listed on the Indonesia Stock Exchange (BEI) and rated by Fitch, Moody's, Standard & Poor and Pefindo. The independent variable used in this research is the credit rating which is sorted from highest to lowest value using an ordinal scale and dummy variables for investment grade and speculative grade. The dependent variable used is the line of credit utilization ratio (RDRAWN). Hypothesis testing in this research uses moderated regression analysis (MRA). The results of this research indicate that credit ratings influence the utilization of lines of credit. Under normal economic conditions, firms with higher ratings used line of credit facilities more than companies with lower ratings. However, when the Covid-19 pandemic happened, the use of these facilities was reversed. Firms with lower ratings (speculative grade) utilized line of credit facilities more intensively than companies with higher ratings (investment grade).
Kata Kunci : Peringkat Kredit, Credit Rating, Investment Grade, Speculative Grade, Line of Credit, Covid-19