The American Graded Stakes Committee of the Thoroughbred Owners and Breeders Association presented its listing of U.S. Graded and Listed Stakes Races for calendar year 2025, the results of its annual grading session conducted Dec. 16 and 17. The committee reviewed 957 U.S. stakes races with a purse of at least $75,000, and assigned graded status to 415 of them, 14 fewer than were graded in 2024, and listed status to 210 races. Four graded races were upgraded; one new Grade I and three new Grade II races were named;...