Fidelity funds accumulate 5.2 pct of Israel Chem

TEL AVIV, May 12 (Reuters) - U.S. fund manager Fidelity has accumulated a 5.2 percent stake in Israel Chemicals (ICL.TA: Quote, Profile, Research), the maker of fertilisers and specialty chemicals said on Monday.

ICL issued to the Tel Aviv Stock Exchange a copy of a letter it received from FMR LLC of Boston and FIL Ltd of Bermuda, which are the parent companies of Fidelity, the letter said.

"Fidelity hereby notifies Israel Chemicals Ltd that the aggregate holdings of certain institutional accounts and open-end investment companies managed by Fidelity could be deemed to have exceeded 5 percent of the issued share capital and 5 percent of the voting rights of the company," the letter said.

Fidelity holds a total of 66.97 million shares in ICL, which were trading up 2.2 percent at 66.59 shekels ($19.25) in Tel Aviv.

Separately, the Maalot ratings agency, the Israeli affiliate of Standard & Poor's, said ICL would issue up to $100 million in tradeable securities. Maalot issued a short-term rating of A-1+ to the securities.

($1 = 3.46 shekels)

(Reporting by Tova Cohen)