Moody's says there is no clear plan at Eskom to get it out of its financial mess.
We need meaningful transformation and empowerment to ensure all South Africans have a stake in the economy.
Treasury says government must take advantage of the opportunity presented by Moody's decision to upgrade the country's outlook to stable.
Eskom would need to secure access to local and international debt markets if it is to meet its liquidity needs, Moody's said.
Agency recognises the financial flexibility offered within the group's listed investments, but does not know if they can be monetised quickly enough.
Steinhoff's CEO resigned this week amid allegations of accounting fraud.
Treasury has halted the plan in attempt to stave off another downgrade.
S&P has downgraded SA's currency rating to junk. What does this mean for ordinary consumers?
Moody's has warned that SA and its neighbours will find it hard to borrow money soon.
Analysts believe this could signal another ratings agency downgrade.