Etymology
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middling (adj.)

"medium in rank, condition, or degree; intermediate," 1540s, from Middle English medlinge "intermediate between two things" (late 14c.), from middle (adj.) + present-participle suffix -ing (2). Used in trade to designate the second of three grades of goods. Hence "only medium, neither good nor bad" (1650s). As an adverb, "tolerably, passably," by 1719.

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Definitions of middling
1
middling (n.)
any commodity of intermediate quality or size (especially when coarse particles of ground wheat are mixed with bran);
2
middling (adv.)
to certain extent or degree;
Synonyms: reasonably / moderately / pretty / jolly / somewhat / fairly / passably
3
middling (adj.)
lacking exceptional quality or ability;
the performance was middling at best
Synonyms: average / fair / mediocre
From wordnet.princeton.edu