Top Credit Stories Bouygues (ENFP) - 1Q21 results show signs of recovery, EBITDA ambition in telecoms raised Cirsa (LHMCFI) - 1Q21 was the toughest quarter but development in March increases confidence Dufry (DUFNSW) - 1Q21 shows improvement in US Euro area banks - ECB warns of insolvencies when pandemic stimulus measures are lifted Lufthansa (LHAGR) - Hybrid coupons deferred Telecom Italia (TITIM) - 1Q21 results show improving fixed trends but mobile remains difficult Wienerberger (WIEAV) - Moody's lifts outlook to stable

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