The purpose of this study to examine and analyze on the effect of financial ratios (leverage
ratio, ratio, liquidity, profitabillitas ratio, solvency ratio ) against the bond rating and the impact on
stock returns in the non-financial companies listed on the Indonesian Stock Exchange period 20112014
.

`In determining the data to be examined sampling technique used was purposive sampling .
The sampling of 30 companies with data that is processed as many as 81. The analytical tool used in
this research is multiple linear regression .
The results of the partial test shows that leverage significant negative effect on the bond
rating , the liquidity ratio ( CUR ) negative effect significant bond rating , the profitability ratio ( ROA
) positive effect was not significant to the bond rating , the solvency ratio ( CTD ) positive and
significant impact the bond rating and bond rating no significant negative effect on stock returns .
While the simultaneous test shows that leverage , ( CUR ) , ( ROA ) , and ( CTD ) significantly affects
bond rating and bond rating no significant effect on stock returns .

Keywords: Financial ratios, Rating bonds, stocks Return.