The goal of this research is to use bond ratings to look at how profitability, liquidity, and leverage influence bond prices. Our study population consists of all firms registered on the Indonesian stock market from 2019 to 2021, totalling up to 116 entities. In a purposeful selection on the next year's treasury: 2019-2021 corporation produced a report, derive profit in rupiah, and is rated by the company issuing bonds PT. Pefindo. The research company chose 72 companies to test the hypothesis and employed route analysis. Findings of this study show that profitability, liquidity, and leverage have little effect on bond ratings, and bond prices have nothing to do with changes in liquidity and leverage, however profitability and bond rating have a considerable impact on bond prices. Meanwhile, bond ratings are unable to mediate liquidity and leverage on bond prices. However, the bond rating reflects the yield of bond prices. This study found that bond ratings are unaffected by profitability, liquidity, and leverage, although bond prices can be affected by profitability and bond ratings. Furthermore, the practical contribution demonstrates that bond ratings and bond prices play an important role in the company's efforts to enhance its performance. Specifically, liquidity to pay interest and instalments for leverage to boost the company's income.
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