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English definition of “downgrade”

downgrade

verb [T]     /ˌdaʊnˈɡreɪd/ US   /ˈdaʊnɡreɪd/
FINANCE to state that something such as a company is likely to produce less profit or growth, to be less able to pay back debt, etc. than was previously thought: downgrade stocks/sharesdowngrade sth's rating/status Investment bank Merrill Lynch downgraded the company's status from 'buy' to 'neutral'. The Chancellor blamed higher oil prices for the downgraded growth forecast.
HR to make a job less senior, skilled, or important than before, or to put someone into a less senior or important job: The new contracts effectively downgraded their jobs to match their colleagues' lower pay. The agreement may lead to one in six staff being downgraded.
(Definition of downgrade verb from the Cambridge Business English Dictionary © Cambridge University Press)
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