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Presale: Fosse Master Issuer PLC (Series 2012-1) May 12 Product Image

Presale: Fosse Master Issuer PLC (Series 2012-1) May 12

  • Published: May 2012
  • Standard & Poors

FEATURED COMPANIES

  • Fosse Master Issuer PLC
  • Santander UK PLC
  • MORE

Abstract
Standard & Poor's Ratings Services has assigned preliminary credit ratings to Fosse Master Issuer PLC's mortgage-backed notes series 2012-1. In addition, Fosse Master Issuer will issue subordinated unrated class Z notes. The general reserve fund will decrease in percentage terms to 3.48% from 3.61% prior to the 2012-1 issuance. Overall credit enhancement will be 19.10% for the class A notes, as further class Z notes will be issued. On the closing date, Fosse will purchase additional collateral in connection with this transaction. A pool of first-ranking mortgages secured over properties in England, Scotland, Wales, and Northern Ireland will collateralize the notes. Alliance & Leicester PLC (whose assets and liabilities Santander UK PLC assumed in May 2010) historically originated all of...

Companies mentioned in this report are:
- Santander UK PLC
- Fosse Master Issuer PLC

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of READ MORE >

- Santander UK PLC
- Fosse Master Issuer PLC

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