Use 'downplay' for conveying a softer or less alarming tone about issues that might be significant. They downplayed the financial losses to avoid panic among investors.
Pro Tip 2/3
Potentially Negative
'Downplay' often hints the speaker might be intentionally misleading or hiding the full truth. The politician downplayed his role in the scandal, which made the public suspicious.
Pro Tip 3/3
Subjectivity Involved
The use of 'downplay' suggests a subjective perspective; what is downplayed may indeed be important. She downplayed her achievements, but everyone knew she was essential to the project's success.