First Credit Advisors, LLC (FCA) is a wholly owned subsidiary of First Kentucky Securities Corporation (FKSC). FCA acquired FKSC's $2 billion portfolio advisory business in 2004. FCA has expanded that advisory business to include research, analysis and monitoring work on municipal security holdings of banks, mutual funds, money managers, individuals and securities dealers. We focus on providing our clients independent, customized, investor-oriented research, analysis and evaluation. Our principal analysts have decades of experience originating, marketing, monitoring and pricing municipal credits in a broad geographic area. We qualify as “market participants” under the FASB 157 definition.