You are thinking of nominal rates, but you should be looking at the real rate, which is the spread of the interest rate over inflation. They can survive 5-10% rates just fine if inflation is 8%. They don't need to raise revenue 2-5x to make coupon payments, because interest isn't their entire cost structure.
Some can - the ones with pricing power. Inflation hits the economy unevenly. Firms with few competitors can raise prices at will to soak up all the extra money floating around. Firms in highly competitive markets cannot raise prices, because as soon as they do everyone moves to a competitor.
The problem is that the ones with pricing power are generally not the ones with high levels of debt, because if they had pricing power, they wouldn't need debt. They may be customers or suppliers of companies with pricing power, though, which forces the latter group to assume lower revenues in the future because some of their customers may go bankrupt.
