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"downgrade into" is a correct and usable phrase in written English
It typically means to reduce something to a lower or inferior level or condition. For example, "The company downgraded the employee's role into a more junior position."
Exact(3)
The fourth quarter has been tough and we lower our 2012 pretax profit forecast by 8% to €60m toreflect this and roll forward a 3% downgrade into 2013.
For ISDA, a downgrade into default by a rating agency isn't a trigger for a credit event.
It's very unlikely to be a permanent downgrade into default or the slightly higher junk territory if it is fixed fairly rapidly.
Similar(57)
AE Stallings dramatises this resourcefulness by repurposing a news headline, "Greece Downgraded Deeper Into Junk", and using that headline's last word as one of the two repeating rhymes of a villanelle embedded in a prose poem.
That rule eventually got downgraded into what Ken called "a strong tradition," and has now pretty much gone by the wayside.
When the plans were initially revealed last year, Mr Sheerman wrote that MPs feared Parliament was being "downgraded into a tourist attraction".
That'll be a tricky up and down, and a brilliant round is in danger of being downgraded into a simply very good one.
That rule eventually got downgraded into what Ken called "a strong tradition," and has now pretty much gone by the wayside.
If such a sale does not materialize, the rating would likely be downgraded into the "Baa" category, from A2.
For instance, segregation raises equity issues if immigrants are systematically "downgraded" into low-wage categories that lie below their observed skills, as suggested in recent work by Dustmann et al. (2013) and McGuinness and Byrne (2014).
Shortly thereafter, Javier was downgraded into a Category 1 hurricane.
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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