OVERVIEW We have assigned ratings to Fosse Master Issuer's series 2014-1. At the same time, we have affirmed our ratings on all of the master trust's outstanding classes of notes in series 2010-1 to 2012-1. Series 2014-1 is the 11th issuance from the Fosse master trust. A pool of first-ranking mortgages secured on U.K. properties collateralizes the notes. LONDON (Standard&Poor's) June 16, 2014--Standard&Poor's Ratings Services today assigned credit ratings to Fosse Master Issuer PLC's mortgage-backed series 2014-1 (see list below). At the same time, we have affirmed our ratings on all of the outstanding classes of notes in: Fosse Master Issuer PLC series 2010-1; Fosse Master Issuer PLC series 2010-3; Fosse Master Issuer PLC series 2011-1;
