New York, January 14, 2016 -- Moody's Investors Service has placed on review for downgrade the ratings of Old National Bancorp and its lead bank subsidiary, Old National Bank (collectively, Old National) following the announcement that it has agreed to acquire Anchor Bancorp of Wisconsin (unrated) in a stock and cash transaction expected to close in the second quarter 2016. Old National Bank has long-term bank deposit ratings of Aa3, an issuer rating of A3, a standalone baseline credit assessment (BCA) of a2, an adjusted BCA of a2, and a long-term Counterparty Risk (CR) Assessment of A1 (cr). Old National Bancorp has an issuer rating of A3, senior unsecured debt rating of A3, subordinated shelf rating of (P)A3, junior subordinated shelf rating of (P)Baa1, and preferred stock cumulative and non-cumulative shelf ratings of (P)Baa1 and (P)Baa2, respectively. The bank's short term Prime-1 deposit rating and counterparty risk (CR) assessment of Prime-1(cr) were affirmed in this action.

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