diff --git a/RAILS_VERSION b/RAILS_VERSION
index 0922b2fd94d8f..7dead430eb238 100644
--- a/RAILS_VERSION
+++ b/RAILS_VERSION
@@ -1 +1 @@
-4.2.1.rc2
+4.2.1.rc3
diff --git a/actionmailer/lib/action_mailer/gem_version.rb b/actionmailer/lib/action_mailer/gem_version.rb
index ce7be2f6fcaba..f944c0c0430af 100644
--- a/actionmailer/lib/action_mailer/gem_version.rb
+++ b/actionmailer/lib/action_mailer/gem_version.rb
@@ -8,7 +8,7 @@ module VERSION
     MAJOR = 4
     MINOR = 2
     TINY  = 1
-    PRE   = "rc2"
+    PRE   = "rc3"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join(".")
   end
diff --git a/actionpack/lib/action_pack/gem_version.rb b/actionpack/lib/action_pack/gem_version.rb
index 86d74c489611c..935ba6ec97d33 100644
--- a/actionpack/lib/action_pack/gem_version.rb
+++ b/actionpack/lib/action_pack/gem_version.rb
@@ -8,7 +8,7 @@ module VERSION
     MAJOR = 4
     MINOR = 2
     TINY  = 1
-    PRE   = "rc2"
+    PRE   = "rc3"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join(".")
   end
diff --git a/actionview/lib/action_view/gem_version.rb b/actionview/lib/action_view/gem_version.rb
index 76694b043f04c..826b8e01e4760 100644
--- a/actionview/lib/action_view/gem_version.rb
+++ b/actionview/lib/action_view/gem_version.rb
@@ -8,7 +8,7 @@ module VERSION
     MAJOR = 4
     MINOR = 2
     TINY  = 1
-    PRE   = "rc2"
+    PRE   = "rc3"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join(".")
   end
diff --git a/activejob/lib/active_job/gem_version.rb b/activejob/lib/active_job/gem_version.rb
index ca14fbcb029fe..29497fdefc840 100644
--- a/activejob/lib/active_job/gem_version.rb
+++ b/activejob/lib/active_job/gem_version.rb
@@ -8,7 +8,7 @@ module VERSION
     MAJOR = 4
     MINOR = 2
     TINY  = 1
-    PRE   = "rc2"
+    PRE   = "rc3"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join(".")
   end
diff --git a/activemodel/lib/active_model/gem_version.rb b/activemodel/lib/active_model/gem_version.rb
index b0b7b044f76dd..4da563feb3b85 100644
--- a/activemodel/lib/active_model/gem_version.rb
+++ b/activemodel/lib/active_model/gem_version.rb
@@ -8,7 +8,7 @@ module VERSION
     MAJOR = 4
     MINOR = 2
     TINY  = 1
-    PRE   = "rc2"
+    PRE   = "rc3"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join(".")
   end
diff --git a/activerecord/lib/active_record/gem_version.rb b/activerecord/lib/active_record/gem_version.rb
index 3dfb96d45cc4c..26df315f24e69 100644
--- a/activerecord/lib/active_record/gem_version.rb
+++ b/activerecord/lib/active_record/gem_version.rb
@@ -8,7 +8,7 @@ module VERSION
     MAJOR = 4
     MINOR = 2
     TINY  = 1
-    PRE   = "rc2"
+    PRE   = "rc3"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join(".")
   end
diff --git a/activesupport/lib/active_support/gem_version.rb b/activesupport/lib/active_support/gem_version.rb
index c2f7883bdcaa7..11d7781fd5c2a 100644
--- a/activesupport/lib/active_support/gem_version.rb
+++ b/activesupport/lib/active_support/gem_version.rb
@@ -8,7 +8,7 @@ module VERSION
     MAJOR = 4
     MINOR = 2
     TINY  = 1
-    PRE   = "rc2"
+    PRE   = "rc3"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join(".")
   end
diff --git a/railties/lib/rails/gem_version.rb b/railties/lib/rails/gem_version.rb
index 39f71bf180c5e..1c5f25337f32c 100644
--- a/railties/lib/rails/gem_version.rb
+++ b/railties/lib/rails/gem_version.rb
@@ -8,7 +8,7 @@ module VERSION
     MAJOR = 4
     MINOR = 2
     TINY  = 1
-    PRE   = "rc2"
+    PRE   = "rc3"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join(".")
   end
diff --git a/version.rb b/version.rb
index 39f71bf180c5e..1c5f25337f32c 100644
--- a/version.rb
+++ b/version.rb
@@ -8,7 +8,7 @@ module VERSION
     MAJOR = 4
     MINOR = 2
     TINY  = 1
-    PRE   = "rc2"
+    PRE   = "rc3"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join(".")
   end