This is how actual EARLY design of the Kestrel looks like. It will look even better if you can alter osprey's engine part of the Peregrine little bit.

Do you remember strange ship dot portrait on game's background? Rebel Fleet and Fed. Fleet..... I wonder what kind of Spacecrafts are those. They looks like kinda Battle ships or Battle Cruisers, but we never actually can face these model in game! So, I guess that our Fed. Cap was so good at sailing...

If it is actually F.M.K instead of M.F.K... I am very sure about that that crest means, Federation of Man Kind. I made this guess by considering fact that Rebels are all "pure-blooded humans." - Actually MFK can also be a latin word... in this case MFK is not a name of rebel organization.....