Picklist field does not have the updated value after renaming the Picklist Values
|Knowledge Article Number||000194124|
|Description||When changing a picklist value the field still holds the old value despite the value being changed.|
|Resolution||This condition is normally seen when metadata is updated within span of seconds even before the change is propagated through all the records that contain this field. This will result in the change not getting updated completely.
As a best practice, one should, upon renaming the value, check if records sustained the new value.
If the records don't change to the new value then the 'Replace' button can be used to make the changes.