diff --git a/CHANGES b/CHANGES
index bf1225f571..ad52cdd055 100644
--- a/CHANGES
+++ b/CHANGES
@@ -7,7 +7,7 @@ Note that ``RB_ID=#`` correspond to associated messages in commits.
 6.x
 -----
 
-6.32.0
+6.33.0
 ~~~~~~~
 
 New Features
@@ -86,6 +86,10 @@ Breaking API Changes
   * finagle-thrift: Remove the `framed` attributes from `c.t.f.Thrift.Client` and
     `c.t.f.Thrift.Server`.  This behavior may now be controlled with `c.t.f.Thrift.param.Framed`.
 
+6.32.0
+~~~~~~~
+
+NOT RELEASED
 
 6.31.0
 ------
diff --git a/project/Build.scala b/project/Build.scala
index 4d606d3cd6..9c04c34071 100644
--- a/project/Build.scala
+++ b/project/Build.scala
@@ -12,10 +12,10 @@ object Finagle extends Build {
   val branch = Process("git" :: "rev-parse" :: "--abbrev-ref" :: "HEAD" :: Nil).!!.trim
   val suffix = if (branch == "master") "" else "-SNAPSHOT"
 
-  val libVersion = "6.32.0" + suffix
-  val utilVersion = "6.31.0" + suffix
-  val ostrichVersion = "9.15.0" + suffix
-  val scroogeVersion = "4.4.0" + suffix
+  val libVersion = "6.33.0" + suffix
+  val utilVersion = "6.32.0" + suffix
+  val ostrichVersion = "9.16.0" + suffix
+  val scroogeVersion = "4.5.0" + suffix
 
   val libthriftVersion = "0.5.0-1"