I don’t think it matters that much whether he is rated 100 or 110. Once you enter this sphere you’re basically in no man’s land. Too high to win a competitive handicap and just to low to compete against proper G1 or G2 horses.
What’s next on the agenda? Find out what caused the bleeding, then see how fit he is and take the next step/decision.
Maybe that move to someone like Haggas should have happened already….