verb (v)

• make small or insignificant(verb.change)

  Example:
  Let's minimize the risk.
  

  Synonym:
  minimise
  Antonym:
  maximise, maximize
  

  source: wordnet30
• represent as less significant or important(verb.communication)

  Synonym:
  downplay, minimise, understate
  Antonym:
  amplify, exaggerate, hyperbolise, hyperbolize, magnify, overdraw, overstate
  

  source: wordnet30
• cause to seem less serious; play down(verb.communication)

  Synonym:
  belittle, denigrate, derogate
  

  source: wordnet30
• To reduce to the smallest part or proportion possible; to reduce to a minimum.(verb)

  source: webster1913