UPDATE 1-Charter to apply for post-Chapter 11 Nasdaq listing

* Charter plans notes, rights offer

* Will apply for Nasdaq listing post-bankruptcy

* S&P lifts rating to CC from D

LOS ANGELES, Feb 13 (Reuters) - Charter Communications Inc(CHTR.O) plans to raise more than $3 billion in a notes and rights offering and will apply to list its new stock on the Nasdaq after it restructures and emerges from bankruptcy.

Charter, controlled by Microsoft Corp (MSFT.O) co-founder Paul Allen, said on Thursday it was restructuring its debt and would file for for Chapter 11 around April 1 after it reached an agreement to reduce its debt by about $8 billion. [ID:nN12463054]

On Friday, ratings agency Standard & Poor's raised the company's corporate credit rating to "CC" from "D," following the announcement on Thursday of the restructuring agreement.

The firm said in the exchange filing that it plans to issue $1.48 billion worth of new notes and generate proceeds of about $1.62 billion from a rights offering. It did not suggest a time frame for a Nasdaq listing application. (Reporting Eddie Chan; Editing by Andre Grenon)