The rating on Philadelphia Authority for Industrial Development, Pa.'s bonds, issued for Simpson House, reflects: Strong demand for services, High occupancy levels, Solid market position, and History of positive operating performance. Offsetting factors include competition from similar facilities in the area and transfer of funds to the parent company. The bonds are secured by a gross revenue pledge and a mortgage. Founded in 1865, Simpson House is located in the Fairmont Park Section of Philadelphia. Simpson House is a comprehensive Continuing Care Retirement Community (CCRC) that offers extensive levels of care. Currently, Simpson House has 170 independent living units, 22 assisted-living beds, and 154 skilled-nursing beds. Demand for all of Simpson House's facilities is strong, with occupancies averaging about 94%
