The negative outlook reflects our belief that Community might not be able to improve its operations such that cash flow is at break-even, the company can maintain modest cushions on its financial covenants, and its operating plan continues to demonstrate sustainable progress. We could lower the rating if the company does not achieve sufficient success in its turnaround plan. We believe further underperformance could result in larger cash outflows, which could strain liquidity and prompt a downgrade. This is because we project that the company's cash flow will be very limited despite an improvement in operations. We could revise the outlook to stable if the company meets our base-case forecast, which would result in break-even cash flow and some cushion
