Lianhe Global downgrades Redco Properties Group Limited’s global scale Long-term Issuer and Issuance Credit Rating to ‘B’ from ‘BB-’; On Rating Watch Negative

HONG KONG, 25 February 2022 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has downgraded the global scale Long-term Issuer Credit Rating of Redco Properties Group Limited (1622.HK) (“Redco” or “the company”) to ‘B’ from ‘BB-’.