Blackstone’s BCRED Cuts Value of Loan to Dental-Implant Company

A Blackstone Inc. fund has slashed the value of a private-credit loan it made to a company that provides tooth-replacement services for dentists across the US.

Blackstone Private Credit Fund said it’s marked the loan at 69.8 cents on the dollar, according to a regulatory filing. That, combined with another markdown, on software company Medallia Inc., were the biggest contributors to the firm’s increase in so-called non-accrual loans.