Fitch affirms Old National

Fitch Ratings said it affirmed Old National Bancorp's long-term issuer default rating at BBB and the short-term issuer default rating at F2.

The outlook is stable.

The affirmation reflects the company's sound capital position, manageable level of problem assets and continued profitability over the course of the credit cycle, the agency said.

The ratings consider the company's continued profitability over the course of the credit cycle, as earnings have been able to absorb elevated credit costs, the agency added.

The ratings also consider the company's strong capital position and challenging revenue growth, Fitch said.

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