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downgrade down‧grade [ˈdaʊngreɪd] verb [transitive]1. to give something less importance, for example by spending less money on it or reducing its value:• The drug company is planning to downgrade some of its products from prescription status.
2. HUMAN RESOURCES to make someone's job less important or well-paid than it was before:• Eighty-eight middle managers had been made redundant, downgraded or fired.
• Services have been reduced and temporary contracts are being used to downgrade or replace qualified staff.
— compare upgrade13. ECONOMICS to reduce an amount or value that you had calculated or guessed:• Analysts downgraded four-year profit projections and exposed the fledgling company to the harsher side of stockmarket life.
• The company's long-term debt-rating has been downgraded from triple-A to double-A-2.
— compare upgrade1* * *
The reduction of credit rating for a borrowing institution or its debt instruments. Opposite to upgrade.► See also Credit Rating, Upgrade.* * *
Ⅰ.downgrade UK US /ˌdaʊnˈgreɪd/ US /ˈdaʊngreɪd/ verb [T]► 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/shares
downgrade 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.
Ⅱ.downgrade UK US /ˈdaʊnɡreɪd/ noun [C]► FINANCE a statement that something such as a company's profit, ability to pay back debt, etc. will be less than was expected: »A credit rating downgrade would raise their cost of borrowing.
Financial and business terms. 2012.
