Fosse Master Issuer's Series 2019-1 U.K. RMBS Notes Assigned Ratings

We have assigned our 'AAA (sf)' ratings to Fosse Master Issuer's series 2019-1 class A1 and A2 residential mortgage-backed notes. At the same time, we have affirmed our 'AAA (sf)' rating on the series 2011-2 class A5 notes. Santander UK PLC originated all of the assets in the portfolio, which are owner-occupied mortgage loans secured against properties in the U.K. LONDON (S&P Global Ratings) Oct. 15, 2019--S&P Global Ratings today assigned its 'AAA (sf)' ratings to Fosse Master Issuer PLC's class A1 and A2 residential mortgage-backed floating-rate series 2019-1 notes. At closing, the issuer also issued unrated class Z notes. At the same time, we have affirmed our 'AAA (sf)' rating on the series 2011-2 class A5 notes (see list).

...- We have assigned our '### (sf)' ratings to Fosse Master Issuer's series 2019-1 class A1 and A2 residential mortgage-backed notes. - At the same time, we have affirmed our '### (sf)' rating on the series 2011-2 class A5 notes. - Santander UK PLC originated all of the assets in the portfolio, which are owner-occupied mortgage loans secured against properties in the U.K. LONDON (S&P Global Ratings) Oct. 15, 2019--S&P Global Ratings today assigned its '### (sf)' ratings to Fosse Master Issuer PLC's class A1 and A2 residential mortgage-backed floating-rate series 2019-1 notes. At closing, the issuer also issued unrated class Z notes. At the same time, we have affirmed our '### (sf)' rating on the series 2011-2 class A5 notes (see list). Fosse is a public limited company incorporated in England and Wales. It conforms to our definition of a special-purpose entity (SPE) in "Asset Isolation And Special-Purpose Entity Methodology," published on March 29, 2017. It was established to issue the notes...

Ratings Action