Canadian commercial mortgage-backed securities issuance is expected to grow by 20%-30% in 2004, Moody's Investors Service has reported.The Canadian CMBS market has been attracting more and more participants and is expected to continue doing so in the coming year, said Toronto-based Moody's analyst Charles Gamm, the author of a recent report on the Canadian structured finance market. Canada saw a total of more than $C3.3 billion (about $2.49 billion) in deals issued in its CMBS market in 2003, according to Moody's. The rating agency can be found online at http://www.moodys.com.

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