Any skill that a pet possesses has a minimum cap of 100. If a pet has a skill that was greater than 100 after it was tamed that value becomes the pet’s cap in that skill. If, for example, you tame a pet with 75 wrestling that pet’s cap in wrestling is 100. If you tame a pet that has 112 evaluate intelligence that pet’s cap on evaluate intelligence is 112.
When a bonded pet dies it looses .1 in each skill. Each skill can be trained back to whatever its cap is. So, if your 112 evaluate intelligence pet dies the skill drops to 111.9 but you can train it back up to 112.