We ask what happens when the index set carries modal structure, with possibilities organized into a Kripke frame. We define modal exchangeability as invariance under accessibility-preserving automorphisms that fix a designated base world, and derive a representation theorem for countable frames. The orbit decomposition of the centered symmetry group governs the within-orbit structure: worlds in the same orbit are conditionally identically distributed, and on orbits satisfying a richness condition and countable infinitude they are conditionally i.i.d. given a rigid orbit-specific directing measure. Point-homogeneous S5 frames yield a single de Finetti parameter; S4 frames may admit multiple orbits, with the richer orbits carrying rigid directing measures and the remainder carrying only weaker invariant structure. Two applications follow. First, the orbit decomposition determines whether learning pools globally or remains orbit-local. Second, it supplies a mechanism for structural credal fine-graining indexed to orbit regions, distinct from hyperintensionality in the strict sense of distinguishing coextensive propositions.