Top Credit Stories AT&T (T) - S&P changes outlook to stable from negative Auto Manufacturers - European car registrations up by 255.9% in April given base effect Bayer (BAYNGR) - US judge remains sceptical of Bayer's glyphosate settlement Deutsche Telekom (DT) - Considering raising stake in TMUS EnBW (ENBW) - Downgrade to Baa1 with stable outlook by Moody's Engie (ENGIFP) - Accelerating renewables expansion to achieve net zero carbon emissions by 2045 German banks - BaFin sees potentially large impact of court ruling on bank fees Iliad (ILDFP) - 1Q21 results show slower growth, but tower stake sale looks positive Jaguar Land Rover (JAGLN) - GBP 729mn in FCF in 4Q20/21 slightly above GBP 500mn guidance, but 1Q could have a small EBIT loss K+S (SDFGR) - Update on debt reduction following receipt of Americas disposal proceeds Kion (KGXGR) - S&P revises outlook to positive from stable Vivendi (VIVFP) - Considering further 10% UMG stake sale Vodafone (VOD) - FY20/21 results show improving trends, but capex to increase in FY21/22

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