LONDON, March 23 - Moody's Investors Service has downgraded the bank financial strength rating of Rodovid Bank to E from E+, its long-term local currency and foreign currency bank deposit ratings to Caa2 from B3.

The bank's long-term deposit ratings remain on review for possible further downgrade.

The rating action is in response to the announcement that the National Bank of Ukraine has taken control of Rodovid Bank following the concerns about the bank's ability to continue its operations as a viable stand-alone entity.