THE LEVELS OF THE RATINGS IN THE INTERNATIONAL CLASSIFICATIONS AND WORLD THOROUGHBRED RANKINGS 1977-2012 A RE-ASSESSMENT CARRIED OUT BY THE WORLD RANKINGS SUPERVISORY COMMITTEE JANUARY 2013 ANALYSIS OF THE LEVELS OF EUROPEAN 3 YEAR OLDS AND UPWARDS IN INTERNATIONAL FLAT CLASSIFICATIONS AND WORLD THOROUGHBRED RANKINGS 1977-2012 PURPOSE There has been much debate over many years about the variance