The rating on Philadelphia Authority for Industrial Development, Pa.'s bonds, issued for Simpson House, reflects: * Excellent demand for long-term care services 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 team, and * National accreditation of all facilities through the Continuing Care Accreditation Commission and the Joint Commission on Accreditation of Healthcare Organizations. Founded in 1865 and located in the Fairmont Park section of Philadelphia, Simpson House
