Here’s why Fitch downgraded U.S. long-term rating to AA+ from AAA

Richard Francis, co-head of the Americas Sovereign Ratings at Fitch Ratings, joins ’Squawk on the Street’ to discuss why his firm downgraded the United States’ long-term foreign currency issuer default rating to AA from AAA, the possibility of mild recession in the near future, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO:   » Subscribe to CNBC TV: » Subscribe to CNBC: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Facebook: Follow CNBC News on Twitter: Follow CNBC News on Instagram:   #CNBC #CNBCTV