Comtech Telecommunications ( CMTL ) has disclosed a new risk, in the Debt & Financing category. Comtech Telecommunications is facing significant business risks, primarily due to its substantial operating losses and cash outflows over the past three fiscal years, which have raised doubts about its ability to continue as a going concern. Despite securing a new $222 million credit facility, the company's financial health remains fragile due to stringent covenants and the necessity for lender waivers, which, if not obtained, could trigger an event of default leading to severe repercussions, including asset seizure. Furthermore, Comtech's plans to transform into a satellite and space communications company and reduce its working capital investments are ambitious but not entirely within management's control, thereby adding to the uncertainty.