Downgrades, e.g.

• Changes at Standard & Poor's, say
• Awards another star to, perhaps
• Downgrades, e.g
• Changes a grade
• Bumps an R down to a PG-13, perhaps
• Considers bond values again
• Puts into a new category
• Gives another star to, perhaps

Wiktionary Word definitions in Wiktionary
vb. (en-third-person singular of: rerate )