KIEV, Dec. 15 -- Moody's Investors Service has downgraded the long-term foreign and local currency deposit ratings of Privatbank AS, a Riga-based subsidiary of Ukrainian Privatbank, to B2 from B1.

The bank's Not-Prime short-term foreign and local currency ratings and E+ bank financial strength rating (BFSR) were affirmed. The outlook on the long-term foreign and local currency deposit ratings and the BFSR is negative.