Top Credit Stories A2A (AEMSPA) - Guidance raised after strong half-year results AXA (AXASA) - Gross revenue up 2.8% yoy to EUR 53.9bn; Solvency ratio improved by 12pp CNH Industrial (CNHI) - 1H21 leverage reduced and FCF guidance increas...

Top Credit Stories BBVA (BBVASM) - Better-than-expected 2Q21 profit thanks to strong core revenue trend and lower LLPs BNP Paribas (BNP) - 1H21 results beat expectations again BT (BRITEL) - 1Q21/22 results in line with consensus, but comp...

Top Credit Stories Acea (ACEIM) - EBITDA guidance raised after strong half-year results Airbus (AIRFP) - Now expecting positive FCF even after restructuring cash-outs Altice France (SFRFP) - 2Q21 results above our forecasts, EBITDA recove...

We estimate aggregate coverage 2Q21 core earnings of Bt8,374m, up 20% YoY, driven by a lower gas cost, higher profits at HPPs (heavier precipitation), new capacity, profits at new investments, and normalized numbers for power projects across the boar...