'It' is ignored as a stop word, per the relevant docs:
http://www.postgresql.org/docs/current/static/textsearch-controls.html
In the example above we see that the resulting tsvector does not contain the words a, on, or it, the word rats became rat, and the punctuation sign - was ignored.
You can change the list of stop words by configuring the needed dictionaries:
http://www.postgresql.org/docs/current/static/textsearch-dictionaries.html