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U.S. Companies Pick Up Adoption of Libor Alternative SOFR

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Major U.S. companies are dumping the London interbank offered rate ahead of a year-end deadline for abandoning the troubled short-term interest-rate benchmark

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Sports-vehicle maker Polaris Inc . recently selected Wall Street’s preferred alternative, the Secured Overnight Financing Rate, as its new benchmark rate to provide inventory financing to vehicle dealers as part of a business it runs with Wells Fargo & Co.

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