DEUTSCHE BANK: These 11 indebted companies are most at risk from rising interest rates

With global interest rates on the rise, led by an ongoing tightening cycle from the US Federal Reserve, the era of ultra cheap money looks to be coming to an end.

Since the 2008 crisis, many companies have taken advantage of low rates, borrowing aggressively to fuel expansion.

Now though, with rates starting to rise, many companies have left themselves exposed to bigger interest repayments.

Some firms are more at risk than others, with companies on both sides of the Atlantic vulnerable to rising rates.

To examine which companies are exposed analysts at Deutsche Bank created what they call a "non-exhaustive list of firms with significant debt refinancing risks over the next few years."

Measuring using the companies with the highest ratios of debt to EBITDA (earnings before interest, taxation, depreciation, and amortisation - a key measure of balance sheet strength) Business Insider took a look at those firms most open to damage from rising rates.

Take a look below (charts show the companies' stock performance over the last 12 months):