Standard&Poor's Ratings Services has assigned credit ratings to the mortgage-backed floating-rate notes series 2008-1 issued by Fosse Master Issuer PLC. This is the third listed issuance out of Alliance&Leicester PLC's mortgages trust and is backed by a pool of first-ranking mortgages secured over properties in England, Northern Ireland, Scotland, and Wales. The issuer is a public limited company incorporated in England and Wales. It conforms to Standard&Poor's special-purpose entity (SPE) criteria. It was established to issue the notes and to make term advances from the proceeds of the notes to Funding 1 under the intercompany loan agreement. It may issue further notes and make further term advances to Funding 1. Funding 1 is a
