I'm looking to replace all 4 tires on a 2001 S40. Will 205/55/15 tires work with this car if I wanted to run a bit lower and gain better handling?

Current tires are 195/60/15 with the stock rims. I have checked with TireRack and they are only able to guarantee fit on this model with 195/60/15.

I would appreciate any help.

thanks!