At least 12 people, including six children, have drowned in torrential rain in Sri Lanka caused by a slow-moving storm now headed toward India. More than 335,000 people in Sri Lanka have been forced to flee after their homes were flooded in the storm, Colombo's Disaster Management Centre (DMC) said.

Police in Sri Lanka say eight people, including six children who were returning from school, have gone missing when the farm tractor they were traveling on was swept away by floods triggered by heavy rains.

Moody’s Ratings is reviewing Sri Lanka’s sovereign credit rating for an upgrade, as the nation is set to complete the restructuring of its dollar bonds.

Moody's has placed Sri Lanka's Ca long-term foreign currency rating on review for an upgrade, the credit ratings agency said on Wednesday, following the government's bond-exchange offer that aims to complete the restructuring of international bonds.