Hi,
We have 4 storage accounts on our subscription (1 x standard LRS and 3 x standard GRS).
In the existing management portal all of them appear online and functioning normally, however in the preview portal, the 3 "Standard-GRS" storage accounts are listed as "Degraded" in the storage blade, and if we drill down to a specific storage accounts blade.
I don't see any issues with Azure Storage reported on the status page, and the main management portal shows everything is good, so I believe this is a bug with the preview portal.
I hope this help,
Andy