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The phrase "a downgrading of the" is correct and usable in written English.
It can be used when discussing a reduction in quality, status, or importance of something.
Example: "The recent changes in management have led to a downgrading of the company's reputation in the industry."
Alternatives: "a reduction in the" or "a decline in the".
Exact(33)
This represents a downgrading of the original neocon vision of setting up a democratic state.
Those steps do not amount to a downgrading of the state's bonds.
The corollary of this allegedly Asian value system was a downgrading of the individual and of human rights.
If so, sortition did not necessarily entail a downgrading of the importance of the office of archon.
"Today's numbers have greatly increased the risk of a new recession and a downgrading of the UK's AAA credit rating.
A downgrading of the credit rating would make it harder and more expensive for the state to borrow money.
Similar(27)
Ratings agencies warned of a downgrade of the bank's credit rating.
The terror, real or imagined, of a downgrade of the UK's sovereign debt lurks behind George Osborne's austerity budget.
And a downgrade of the financial guarantors would result in major market upheaval as enormous amounts of securities formerly considered triple-A would have to be downgraded, too.
"A Labour/Liberal government is the least-liked option by markets and would almost guarantee a downgrade of the UK sovereign," the analysts said.
A downgrade of the country's credit rating would probably also be followed by lower ratings on state and local government debt, he said.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com