CHICAGO - After years of near financial collapse, Detroit's largest safety-net hospital is enjoying its fourth straight year of operating profitability and now hopes to enter the bond market for the first time in a decade to generate proceeds that would continue to bolster that performance.

Detroit Medical Center's planned $340 million bond sale comes amid intense market turmoil and weakness that has prompted many issuers over the last two weeks to postpone their sales. DMC's finance team is aiming for a mid-October sale, but is willing to delay the sale until it sees attractive interest rates and yield curves as well as sufficient investor interest in below-investment-grade double-B rated bonds, said the center's chief financial officer, Jay Rising.

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