diff --git a/CHANGES b/CHANGES
index 6e48f33c..8e021404 100644
--- a/CHANGES
+++ b/CHANGES
@@ -428,3 +428,9 @@ o removed non-const YAbstractFamilyMember::parent()
 Version 1.2.6
 -------------
 o added support for recording origins in YStringTree with new class YSTMetaInfo
+
+Version 1.2.7
+-------------
+o added hooks for YAbstractAppliction two-phase __init()
+  (needed for filling commandline later in the process)
+o fixed ScopedRef refcounting with assignment and copy-ctor
diff --git a/VERSION b/VERSION
index a6f24958..0a0fc1d0 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-1.2.6-19-dev
+1.2.7-0-dev