NY -- Standard&Poor's CreditWire 9/2/98 – Standard&Poor's today assigned its triple-'B'-plus rating to Philadelphia Authority for Industrial Development, Pa.'s revenue bonds series 1998 dated Sept. 1, 1998 due Aug. 15, 2020, issued for Simpson House. The bonds are scheduled to sell Sept. 14, 1998. The rating reflects: -- Excellent demand for long-term care services is evidenced by high occupancy levels in excess of 95%, -- A strong market position due to comprehensive living options and service offerings, -- Over 350 days' cash on hand, -- Historically positive operating performance, -- Strong historical adjusted coverage of pro forma maximum annual debt service that has averaged over 3.6 times(x) during the past four years, -- An experienced management
