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PFS StandardArcane CountermeasureFocus 5

Uncommon Focus Manipulate Sorcerer 
Source Player Core 2 pg. 265
Bloodline imperial
Cast [reaction] ; Trigger A creature within range that you can see Casts a Spell.
Range 120 feet; Targets the spell cast by the triggering creature
You undermine the target spell, making it easier to defend against. You reduce the spell's rank by 1, and targets of the spell gain a +2 status bonus to any saving throws, skill checks, AC, or DC against it.

You can't reduce the spell's rank below its minimum. For example, a 5th-rank howling blizzard would remain 5th-rank, but a 5th-rank fireball would become 4th-rank. Targets still gain all the other benefits, even if you don't reduce the spell's rank.