DBRS confirms Old National

DBRS said it confirmed the ratings of Old National Bancorp's BBB (high) issuer and senior debt rating.

The trend remains stable.

The confirmation follows news of the company's intent to acquire Indiana Community Bancorp in an all-stock transaction valued at about $79.2 million, DBRS said.

The ratings reflects an opinion that the acquisition makes strategic sense by broadening its presence in Indiana, the agency said.

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