to reduce someone or something to a lower rank or position, or to cause something to be considered less important or valuable

My job's been downgraded to that of ordinary editor. 我已经被降为普通编辑了。

We can't let the management downgrade the importance of safety at work. 我们决不能允许管理层轻视安全生产问题。

Opposites: advance elevatepromoteraise

Compare: upgrade verb

the process of downgrading

A credit rating downgrade would raise their cost of borrowing. 信誉等级的降低会导致借贷费用的上涨。