KIEV, March 24 -- Moody's Investors Service has downgraded the long-term local currency and senior unsecured foreign currency debt rating of Bank Finance and Credit (F&C) to Caa2 from B1, and foreign currency bank deposit ratings to Caa2 from B2.

In addition, F&C's bank financial strength rating (BFSR) was downgraded to E from E+ and its National Scale Rating (NSR) to B3.ua from Aa3.ua. At the same time, the bank's long-term deposit and debt rating and NSR were placed on review with direction uncertain.