Snoop Dogg (Crow)
Busta Rhymes (Magic)
Method Man (Blaze)
Fat Joe (Crack)
I believe Ludacris belongs at the top of the list due to his intense speed, allowing pressure to be put on your opponent. Speed plays a huge factor in this game, which is why Method Man and Fat Joe were pushed down to C-tier, because their wrestling fighting style is not like, Tekken King effective, only just slowing them down. Memphis Bleek and Xzibit are also basically underpowered versions of Ludacris.
There's a reason why Snoop and D-Mob are the final bosses of the game. D-Mob can dish out a hell of a beating, and take one as well, while Snoop Dogg has the balance of power and speed. Ice-T is basically an underpowered version of Snoop, which is why he made top A-tier.
Prodigy and Havoc also deserved A-Tier because both characters are basically Jack of All Trades characters, being able to have success in any situation. N.O.R.E and Warren G are basically underpowered versions of them, while Redman made A-Tier due to his speed, but he has both good Upper, and Lower Body power. Crazy Legs is very underestimated, having excellent speed as well, but a lacking upper power, meaning you'd have to rely on kicks only.
Jervis is shit tier because his stats put him at an incredible disadvantage. He loses health incredibly fast, and even his blazin' move does just a bit more damage than a normal grab from D-Mob or a wrestling character like Method Man. Taking on a character like D-Mob with Jervis is like trying to kill a Navy Seal with a Nerf Gun.
Busta Rhymes was also put into B tier because his normals are lacking, and the submission system forces you to rely on the same grabs the whole match if you're planning to work on a body part.
Flava Flav is D-Tier because he's a version of Snoop Dogg but doused in shit and urine.