London, May 13, 2016, ARC Ratings, S.A. (ARC) has affirmed its BBB+ foreign currency rating for India. The agency also has affirmed its “A-” local currency sovereign rating of the government, and its “A-” foreign currency and “A” local currency country ceilings for the country. India’s short term ratings are affirmed at A-2. All ratings carry stable outlooks.  ARC’s ratings were not solicited by the government of India.