Tool I think this write up by Yokohama says it the best:
Speed Rating
Speed ratings are certified maximum sustained speed designations assigned to passenger car radials and high performance tires. Because of the evolution of high-speed passenger car travel, it was necessary to establish a way to rate a tire's high-speed capability. In the U.S., these ratings are based on tire testing in laboratory conditions under simulated loads (European testing uses actual road testing). For a tire to be speed rated by the U.S. Government, it must meet certain minimum government standards for reaching and sustaining that specified speed. Domestically, high performance tires must be speed rated. The tire industry defines high performance tires as those with speed symbols of "S" or greater and aspect ratios of 70 or lower. Yokohama goes one step further and defines high performance tires with a speed symbol of "H, V, W, Y," or "Z" and an aspect ratio of 70 or less (typically, 60 or less). Conventional passenger car radials need only meet the minimum Department of Transportation standard of 85 mph. Speed symbols may currently be marked on a tire in any of three ways: 205/60ZR15; 205/60ZR15 89W; or 205/60R15 89W. The International Standard Organization system (ISO) currently serves as a worldwide standard for tire markings. At the end of a transition period, any speed symbol denoting a fixed maximum speed capability will be at the end of the service description following the tire marking (illustrated in the second and third examples above).
*z rating refers to open ended speed capability.
Warning:
Speed ratings apply only to the tire, not to the vehicle. Putting a speed rated tire on any car does not mean the car can be operated at the tire's rated speed.
Notice they sat "maximum sustained speed ", therefore you could reach higher speeds with no problems, but sustaining a higher speed is not recommended. Hope this helps.