diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index ccc8f9222..7cf270404 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 1.2.0b1
+current_version = 1.2.0rc1
 parse = (?P<major>\d+)
 	\.(?P<minor>\d+)
 	\.(?P<patch>\d+)
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 560b42a8f..117aa204e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,4 +1,4 @@
-## dbt-redshift next
+## dbt-redshift 1.2.0rc1 (July 12, 2022)
 
 ### Features
 - Add grants to materializations ([#128](https://github.com/dbt-labs/dbt-redshift/issues/128), [#131](https://github.com/dbt-labs/dbt-redshift/pull/131))
diff --git a/dbt/adapters/redshift/__version__.py b/dbt/adapters/redshift/__version__.py
index 6e8eee929..7e4ec8801 100644
--- a/dbt/adapters/redshift/__version__.py
+++ b/dbt/adapters/redshift/__version__.py
@@ -1 +1 @@
-version = "1.2.0b1"
+version = "1.2.0rc1"
diff --git a/dev-requirements.txt b/dev-requirements.txt
index a63ecbcf0..6d55730d5 100644
--- a/dev-requirements.txt
+++ b/dev-requirements.txt
@@ -1,8 +1,8 @@
 # install latest changes in dbt-core + dbt-postgres
 # TODO: how to switch from HEAD to x.y.latest branches after minor releases?
-git+https://github.com/dbt-labs/dbt-core.git#egg=dbt-core&subdirectory=core
-git+https://github.com/dbt-labs/dbt-core.git#egg=dbt-tests-adapter&subdirectory=tests/adapter
-git+https://github.com/dbt-labs/dbt-core.git#egg=dbt-postgres&subdirectory=plugins/postgres
+git+https://github.com/dbt-labs/dbt-core.git@1.2.latest#egg=dbt-core&subdirectory=core
+git+https://github.com/dbt-labs/dbt-core.git@1.2.latest#egg=dbt-tests-adapter&subdirectory=tests/adapter
+git+https://github.com/dbt-labs/dbt-core.git@1.2.latest#egg=dbt-postgres&subdirectory=plugins/postgres
 
 black==22.3.0
 click~=8.0.4
diff --git a/setup.py b/setup.py
index 3334b72b8..39755f012 100644
--- a/setup.py
+++ b/setup.py
@@ -50,7 +50,7 @@ def _get_dbt_core_version():
 
 
 package_name = "dbt-redshift"
-package_version = "1.2.0b1"
+package_version = "1.2.0rc1"
 dbt_core_version = _get_dbt_core_version()
 description = """The Redshift adapter plugin for dbt"""