Fitch Rates Signum Verde Limited 2007-4

Business Wire, Dec 6, 2007

NEW YORK -- Fitch rates Signum Verde Limited 2007-4 Chilean Peso (CLP)-denominated notes as follows:

--CLP 4,950,000,000 fixed-rate secured inflation-linked and credit-linked to Petroleo Brasileiro SA and Petrobras International Finance due 2032 payable in USD (the Notes) 'BBB-'.

The 'BBB-' rating addresses the likelihood that investors will receive full and timely payments of interest, as per the transaction's governing documents, as well as the stated balance of principal by the legal final maturity date, as per the transaction's governing documents. Payments of interest and principal will be made in U.S. dollar (USD) amounts adjusted according to both the prevailing value of the Unidad de Fomento (UF) and the CLP/USD exchange rate. The rating does not address the foreign exchange risk.

The rating is based upon the credit quality of both the reference entity, Petroleo Brasileiro SA (rated 'BBB-' by Fitch, with a Stable Outlook), and its wholly owned subsidiary, Petrobras International Finance; and the charged assets ('AA-', Outlook Negative).

Fitch will monitor the performance of this transaction. Deal information is available on the Fitch Ratings web site at www.fitchratings.com.

The effective date of this rating is Dec. 4, 2007.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.derivativefitch.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site. Fitch means Fitch, Inc., Fitch Ratings, Ltd. and their subsidiaries including Derivative Fitch, Inc. and Derivative Fitch Ltd. and any successor or successors thereto.