"it is rated" is a grammatically correct sentence in written English. You can use it when you are referring to the rating of something, such as a movie, book, product, etc. For example, "This new movie has been getting great reviews - it is rated 8.1 out of 10 on Rotten Tomatoes.".
"This Is It" is rated PG (Parental guidance suggested).
(It is rated E for Everyone).
It is rated M for Mature.
It is rated 52 m.p.g.
"Cool It" is rated PG (Parental guidance suggested).
"Go for It!" is rated PG-13 (Parents strongly cautioned).
But it is rated at 22 times earnings.
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