(SyndicateMyNews) - S&P said it would be a bumpy ride over the next two years for US automakers and their suppliers, requiring 'more than a jumpstart' to climb out of the global recession.

S&P's ratings forecast remains negative into 2011, as the majority of companies in the sector are likely to remain under pressure.

Only a few rated companies have retained a stable outlook through the recession; almost all rated North American automakers and suppliers have been marred with negative outlooks or CreditWatch listings, which are not likely to be remedied soon.

"Our recent rating actions do not incorporate any meaningful improvement to industry conditions in the next 18 months," said Standard & Poor's credit analyst Robert Schulz, who noted that although projections for 2010 light-vehicle sales may be higher than those for 2009, the numbers remain almost 15% below 2008's low point. Consumer spending is also unlikely to improve in the near future.

Given the preponderance of companies with 'CCC' category ratings, a mark of vulnerability, a new slew of defaults remains probable. Moreover, we no longer expect the stability of auto sales in Europe and emerging markets to offset North American weakness. Even geographically diversified companies have reported sluggish bottom lines that have not spared their ratings from negative actions.