SOFR Emerging as Alternative To LIBOR in U.S. Debt Markets
Following the July 2017 announcement by the U.K.’s Financial Conduct Authority that the London Interbank Offered Rate (LIBOR) cannot be assured following 2021, there has been significant discussion around replacement benchmark rates in financial markets. A report published by S&P Global Ratings on Dec. 4, 2020, titled “SOFR Emerging As Alternative To LIBOR In U.S. Debt Markets,” looks at what the transition away from LIBOR means for U.S. debt markets as the phase-out approaches.