Pick up new rating (3)
I believe the answer is:
nab
'pick up' is the definition.
(I know that pick up can be written as nab)
'new rating' is the wordplay.
'new' becomes 'n' (common abbreviation eg NT for New Testament).
'rating' becomes 'ab' (both can mean a sailor).
'n'+'ab'='NAB'
(Other definitions for nab that I've seen before include "Apprehend" , "Take" , "Catch (a felon)" , "Capture (slang)" , "Arrest (colloq.)" .)