(The following statement was released by the ratings agency) NEW YORK, Dec 22 - European auto suppliers may face further downward pressure on issuer credit quality in 2004 if internal cost-reduction measures and product mix improvements prove insufficient to offset the pressures on volumes, pricing, and raw material costs, says a report issued today by Standard & Poor's Ratings Services. "The economic environment for European automotive suppliers will remain demanding in early 2004, ...
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