As previously reported, B. Riley downgraded Blackstone Secured Lending Fund (BXSL) to Neutral from Buy with a price target of $24.50, down from $27. Watchlist loans comprise 6.6% of Blackstone Secured Lending’s debt portfolio, with average markdowns among the lowest in the group, notes the analyst, who views Medallia as a near-term markdown risk that could pressure credit metrics.
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