ISA CAPITAL DO BRASIL

The international market bond issue on January 29, 2007 was supported by international level credit risk ratings. The risk ratings comes being updated periodically.

aug/22/2016 Fitch Ratings feb/05/2016 Fitch Ratings aug/26/2015 Fitch Ratings jun/25/2012 Fitch Ratings jun/05/2011 Fitch Ratings jul/02/2010 Fitch Ratings jun/30/2009 Fitch Ratings apr/03/2008 Fitch Ratings
Standard & Poor's (BB - positive outlook).

jan/29/2009 Standard & Poor's alterou a qualificação de risco da operação para BB mar/07/2007 Standard & Poor's alterou a qualificação de risco da operação para BB
Fitch Ratings (BB - stable outlook).

jan/12/2007 Fitch Ratings

These ratings are similar to those for the Federative Republic of Brazil and reflect the low risk for the electricity transmission business and the expansion outlook for the sector.