Downgrading rhymes with:
degrading, grading, upgrading, braiding, degrading, grading, raiding, trading, upgrading, aiding, blading, blockading, braiding, cascading, crusading, degrading, evading, fading, grading, invading, kading, lading, masquerading, nading, parading, persuading, pervading, raiding, serenading, shading, trading, upgrading, wading