QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
+Added: All market risk sensitive instruments were entered into for non-trading purposes.
Interest Rate Risk
−Removed: In the ordinary course of business, Wabtec is exposed to risks that increases in interest rates may adversely affect funding costs associated with its variable-rate debt.
−Removed: The Company’s variable rate debt represents 15% and 32% of total debt at December 31, 2020 and 2019, respectively.
−Removed: On an annual basis, a 1% change in the interest rate for variable rate debt at December 31, 2020, would increase or decrease interest expense by about $6.5 million.
+Added: In the ordinary course of business, Wabtec is exposed to risks that increases in interest rates may adversely affect funding costs associated with its available variable-rate debt facilities.
+Added: At December 31, 2021, the Company's interest risk related to variable-rate debt is limited to the amounts borrowed under the Multi-Currency Revolving credit facility.
+Added: December 31, 2021, the Company had no outstanding variable rate debt.
+Added: The Company’s variable rate debt represented 15% of total debt at December 31, 2020.
Foreign Currency Exchange Rate Risk
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