OVERVIEW We have assigned our credit ratings to Fosse Master Issuer's series 2012-1 notes. This is the 10th issuance from the Fosse master trust. A pool of first-ranking mortgages secured over U.K. properties collateralizes the notes. LONDON (Standard&Poor's) May 23, 2012--Standard&Poor's Ratings Services today assigned its credit ratings to Fosse Master Issuer PLC's series 2012-1 mortgage-backed notes (see list below). In addition, Fosse Master Issuer issued subordinated unrated class Z notes. The general reserve fund decreased in percentage terms to 3.56% from 3.61% prior to the 2012-1 issuance. Overall credit enhancement is 19.28% for the class A notes and 17.83% for the class B notes, as further class Z notes were issued at closing. This transaction
