The results of a study of photoluminescence and photoreflectance of Hg1-xCdxTe films with CdTe molar fraction x = 0.5 – 0.7 are presented. The films were grown by molecular beam epitaxy and annealed under mercury deficiency conditions to convert them to hole-type conductivity by generating intrinsic acceptors, mercury vacancies. Annealing resulted in the significant blue-shift of both the photoluminescence and photoreflectance spectra. Energy levels within the bandgap with ionization energies from 44 to 125 meV were detected in the films, and their nature is discussed.