Pick up new rating (3)
I believe the answer is:
nab
'pick up' is the definition.
('nab' can be a synonym of 'pick up')
'new rating' is the wordplay.
'new' becomes 'n'.
'rating' becomes 'ab'.
'n'+'ab'='NAB'
(Other definitions for nab that I've seen before include "Apprehend" , "Take" , "Catch (a felon)" , "Capture (slang)" , "Arrest (colloq.)" .)