George Osborne has said Moody's message is "explicit" to carry on with austerity.
He says "we can either abandon our efforts to deal with debts" or we can "redouble our efforts" and make a brighter future for our children.
More top news
A man who shot and killed his wife before posting a photo of her body - and a confession - to Facebook has been found guilty of murder.
If Number 10 announces it plans to hold a vote on airstrikes in Syria, the planners in the MoD might as well get to work straight away.
The number of children dying from cancer in the UK each year is falling, according to new figures from a major charity.