First-rate report (5)
I believe the answer is:
crack
I believe this clue is a double definition.
'first-rate' is the first definition.
(I've seen this before)
'report' is the second definition.
(thesaurus)
(Other definitions for crack that I've seen before include "Witticism" , "Very skilful" , "Narrow opening, break" , "Opening; sharp blow" , "Break; gap" .)