The CdSSe/CdS structure grown by metalorganic vapour phase epitaxy (MOVPE) and prepared for vertical cavity surface emitting laser (VCSEL) was investigated by the capacitance-voltage characteristics (CV), thermostimulated capacity (TSC), current deep level transient spectroscopy (CDLTS) and cathodoluminescence (CL) methods. Deep levels (DLs) with an activation energies 0.279-1.145 eV were detected by CDLTS and TSC. Hole emission from the ground quantized level in the CdSSe quantum well (QW) was studied. The activation energy of hole emission was used for an estimation of the valence band offset in the type-II CdSSe/CdS heterostructure. Luminescence and laser properties are discussed.