This study aims to analyze the effect of bonds rating, return on assets (ROA), debt to equity ratio (DER) and firm size on corporate bond Yield to Maturity (YTM). The research population consisted of corporate bonds traded on the Indonesia Stock Exchange for the period 2015-2017. The sample selection technique is done by purposive sampling. The research sample consisted of 67 corporate bonds issued by 29 companies from all sectors except the banking and financial sectors. The method of research analysis used is descriptive statistics and Random Effect Model (REM) panel data regression. The results showed partially that the Bond Rating and Firm Size variables had a significant negative effect on YTM, while the ROA and DER variables had no effect on YTM. The implication of this research is that companies need to improve performance and bond ratings to maintain investor confidence. In addition, the company also needs to increase its total assets so that it is easier to find external funding sources through the issuance of bonds. This is because both of them proved to have an effect on YTM. For further research, it is expected to be able to examine other variables that affect YTM because the coefficient of determination of this study is 19.59%, which means there are 80.41% variations in YTM bonds which are explained by other variables outside the research.

Keywords : Bond Rating, Return on Asset, Debt to Equity Ratio, Firm Size, Yield to Maturity.