Downplay

To make something seem less important, serious, or significant than it actually is; to minimize or de-emphasize the importance of something.

A compound word formed from 'down' (indicating reduction or lowering) and 'play' (in the sense of performance or presentation). This relatively modern term combines the directional concept of 'down' with the theatrical sense of 'playing' a role to create the meaning of performing something in a reduced way.