| By Bill Alpert | | --- | | Share | | Resize | | Reprints | | In this article | | ARCC | | BXSL | | OTF | | TCPC | | FSK | As with private equity, the grading of private loans is more opaque than for their public market counterparts. (Michael Nagle/Bloomberg) A big reason investors are ditching private credit is because they're scared its loans are about to go bad. Publicly traded loan funds trade below 80% of their book value, while nontraded funds can't fill all the redemption requests. The 'Watchlist' o ...