SINGAPORE (Standard & Poor's) Dec. 6, 2005--Standard & Poor's Ratings Services said today it affirmed its 'BB+' long-term and 'B' short-term sovereign ratings on the Republic of India. The outlook on the long-term rating remains stable. India's ratings balance its strong external position and growth prospects with its weak fiscal profile and pressing development needs. "India's average annual economic growth over the past five years of 6.5% is higher than any other major economy except China's," said Standard & Poor's credit analyst Ping Chew. "Growth has been fueled by steady economic reform since 1991. We expect India to maintain or even exceed this pace of growth over the medium term, which in turn will allow India to alleviate some of
