The most common and most likely answer to this crossword clue is the 7 letter word TIN-POT
T
I
N
-
P
O
T
Buddy explains!
The straight part
We know that "Second-rate" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case second-rate = tin-pot.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does TIN-POT mean?
TIN-POT adjective- Inferior; shoddy.
- Of a country, regime etc., autocratic, especially amusingly so.