1 unchanged sentence
There were no material changes in our exposure to market risks for changes in foreign currency exchange rates and interest rates as compared to the fiscal year ended June 30, 2021.
−Removed: The interest rate on certain borrowings under our credit facilities, including our primary credit facility, are based on LIBOR.
−Removed: The United Kingdom’s Financial Conduct Authority announced that after 2021 it would no longer persuade or compel panel banks to submit the rates required to calculate LIBOR.
−Removed: In March 2021, the administrator of LIBOR, the ICE Benchmark Administration, announced that it will cease publication of (i) the overnight and 1, 3, 6, and 12 months U.S.
−Removed: dollar LIBOR settings after June 30, 2023 and (ii) all other LIBOR settings, including the 1 week and 2 months U.S.
−Removed: dollar LIBOR settings, after December 31, 2021.
−Removed: If LIBOR is discontinued and we transition to a new rate, interest rates on our current or future indebtedness may be adversely affected.
−Removed: The Company is monitoring these developments.
+Added: The interest rate on certain borrowings under our credit facilities, including our primary credit facility, were based on LIBOR prior to December 31, 2021.
+Added: Due to the discontinuation of LIBOR on December 31, 2021, we have transitioned the impacted interest rates primarily to the Secured Overnight Financing Rate (“SOFR”).
+Added: See Note 6 - Credit Facilities of Notes to Condensed Consolidated Financial Statements for additional information.
Comprehensive disclosures of quantitative and qualitative market risk can be found in our Annual Report on Form 10-K for the year ended June 30, 2021.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.