1. To be considered less valuable, significant, or important than another person, thing, or group of people or things. I personally believe that trying to maximize the profits of corporations rates below preserving the wellbeing of our fellow citizens. His music is very popular across the globe, even though he tends to rate below most "serious" musical artists.

2. To consider someone or something to be less valuable, significant, or important than another person, thing, or group of people or things. In this usage, a noun or pronoun is used between "rate" and "below." It's still very well-written, but I would probably rate it below her other work. I have to rate my last driver below others I've had through your service. He was very unprofessional.