Redco Properties Group Ltd. (Initial Issuer Report)

Lianhe Ratings Global Limited (“Lianhe Global”) has assigned ‘BB-’ global scale Long-term Issuer Credit Rating to Redco Properties Group Ltd.; Outlook is Stable

The Issuer Rating reflects Redco Properties Group Ltd.’s (1622.HK) (“Redco” or “the company”) established track record of scale expansion and healthy margins. However, Redco’s rating is constrained by its relatively small operating scale.

The Stable Outlook reflects our expectation that Redco will continue its scale expansion and geographical diversification in a prudent manner, while maintaining its healthy margins and containing its growth in financial leverage.