"of the highest excellence," 1660s, from first (adj.) + rate (n.) in a specific sense "class of warships in the British Navy." As a mere emphatic statement expressing excellence, by 1812. Colloquially, as a quasi-adverb, 1844.
she doesn't feel first-rate today
a first-rate golfer
first
first-born
first-class
first-hand
firstly
first-rate
first-timer
firth
fiscal
fish
fishbowl