A non-restricted race with added money or guaranteed purse value of $100,000 or more which has been run at least twice under similar conditions and on the same surface and has been assigned graded status for the year contested by the American Graded Stakes Committee of the Thoroughbred Owners and Breeders Association (TOBA) for the United States, or The Jockey Club of Canada for Canada. Established in 1973 to classify select stakes races in North America, at the request of European racing authorities, who had set up group races two years earlier. Always denoted with Roman numerals I, II, or III. Capitalized when used in race title (the Grade I Kentucky Derby). See group race.