British Airways (BA) has launched its second enhanced equipment trust certificate (EETC) transaction, which also incorporates Japanese Operating Lease with Call Option (JOLCO) tax equity. The $608.74million EETC is offered in two tranches: $409.783 million class AA certificates with an initial loan-to-value (LTV) of 48.6%, which have been rated AA- by Fitch Ratings, and $198.957 million class A certificates with an initial LTV of 49.2%, rated A- by Fitch. Both tranches have a 13.5-year tenor and a weighted average life of 7.4 years. Both tranches will fully amortise and will not feature a balloon payment. According to Fitch Ratings, the

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