Swap Strategies for Interest Rate Risk Management

ABC Corporation is facing potential interest rate fluctuations that could negatively impact its financing costs. To mitigate this risk, ABC has decided to enter into an interest rate swap. In this swap, ABC Corporation will pay a fixed rate of 4% and receive a floating rate tied to the 6-month LIBOR. Current market conditions indicate that the 6-month LIBOR is currently at 3.5%. Given these details, ABC has identified specific swap strategies to meet its objectives while managing its exposure to interest rate movements.

If interest rates were to rise significantly, what would be the most effective swap strategy for ABC Corporation to implement, considering both the fixed and floating rate exposure from the swap?