diff --git a/python/src/META-INF/python-plugin-common.xml b/python/src/META-INF/python-plugin-common.xml
index 78b5b57513f9..6cf38846926c 100644
--- a/python/src/META-INF/python-plugin-common.xml
+++ b/python/src/META-INF/python-plugin-common.xml
@@ -221,6 +221,8 @@
 
     <editorSmartKeysConfigurable implementation="com.jetbrains.python.codeInsight.PySmartKeysOptions"/>
 
+    <psi.referenceContributor implementation="com.jetbrains.python.codeInsight.PyStdReferenceContributor"/>
+
     <!-- Django -->
     <codeInsight.lineMarkerProvider language="Python" implementationClass="com.jetbrains.django.annotator.ViewMethodLineMarkerProvider"/>
     <configurationType implementation="com.jetbrains.django.run.DjangoServerRunConfigurationType"/>
diff --git a/python/src/com/jetbrains/python/codeInsight/PyDunderAllReference.java b/python/src/com/jetbrains/python/codeInsight/PyDunderAllReference.java
new file mode 100644
index 000000000000..76b59b4ade92
--- /dev/null
+++ b/python/src/com/jetbrains/python/codeInsight/PyDunderAllReference.java
@@ -0,0 +1,38 @@
+package com.jetbrains.python.codeInsight;
+
+import com.intellij.openapi.util.TextRange;
+import com.intellij.psi.PsiElement;
+import com.intellij.psi.PsiReferenceBase;
+import com.intellij.util.ArrayUtil;
+import com.jetbrains.python.psi.PyFile;
+import com.jetbrains.python.psi.PyStringLiteralExpression;
+import org.jetbrains.annotations.NotNull;
+
+import java.util.List;
+
+/**
+ * @author yole
+ */
+public class PyDunderAllReference extends PsiReferenceBase<PyStringLiteralExpression> {
+  public PyDunderAllReference(@NotNull PyStringLiteralExpression element) {
+    super(element);
+    final List<TextRange> ranges = element.getStringValueTextRanges();
+    if (ranges.size() > 0) {
+      setRangeInElement(ranges.get(0));
+    }
+  }
+
+  @Override
+  public PsiElement resolve() {
+    final PyStringLiteralExpression element = getElement();
+    final String name = element.getStringValue();
+    PyFile containingFile = (PyFile) element.getContainingFile();
+    return containingFile.getElementNamed(name);
+  }
+
+  @NotNull
+  @Override
+  public Object[] getVariants() {
+    return ArrayUtil.EMPTY_OBJECT_ARRAY;
+  }
+}
diff --git a/python/src/com/jetbrains/python/codeInsight/PyDunderAllReferenceProvider.java b/python/src/com/jetbrains/python/codeInsight/PyDunderAllReferenceProvider.java
new file mode 100644
index 000000000000..e6394e22e3d8
--- /dev/null
+++ b/python/src/com/jetbrains/python/codeInsight/PyDunderAllReferenceProvider.java
@@ -0,0 +1,19 @@
+package com.jetbrains.python.codeInsight;
+
+import com.intellij.psi.PsiElement;
+import com.intellij.psi.PsiReference;
+import com.intellij.psi.PsiReferenceProvider;
+import com.intellij.util.ProcessingContext;
+import com.jetbrains.python.psi.PyStringLiteralExpression;
+import org.jetbrains.annotations.NotNull;
+
+/**
+ * @author yole
+ */
+public class PyDunderAllReferenceProvider extends PsiReferenceProvider {
+  @NotNull
+  @Override
+  public PsiReference[] getReferencesByElement(@NotNull PsiElement element, @NotNull ProcessingContext context) {
+    return new PsiReference[] { new PyDunderAllReference((PyStringLiteralExpression) element) };
+  }
+}
diff --git a/python/src/com/jetbrains/python/codeInsight/PyStdReferenceContributor.java b/python/src/com/jetbrains/python/codeInsight/PyStdReferenceContributor.java
new file mode 100644
index 000000000000..8693b4721187
--- /dev/null
+++ b/python/src/com/jetbrains/python/codeInsight/PyStdReferenceContributor.java
@@ -0,0 +1,23 @@
+package com.jetbrains.python.codeInsight;
+
+import com.intellij.psi.PsiReferenceContributor;
+import com.intellij.psi.PsiReferenceRegistrar;
+import com.jetbrains.python.PyNames;
+import com.jetbrains.python.psi.PyAssignmentStatement;
+import com.jetbrains.python.psi.PyStringLiteralExpression;
+import com.jetbrains.python.psi.PyTargetExpression;
+
+import static com.intellij.patterns.PlatformPatterns.psiElement;
+
+/**
+ * @author yole
+ */
+public class PyStdReferenceContributor extends PsiReferenceContributor {
+  @Override
+  public void registerReferenceProviders(PsiReferenceRegistrar registrar) {
+    registrar.registerReferenceProvider(psiElement(PyStringLiteralExpression.class).inside(
+                                          psiElement(PyAssignmentStatement.class).withFirstChild(
+                                            psiElement(PyTargetExpression.class).withName(PyNames.ALL))),
+                                        new PyDunderAllReferenceProvider());
+  }
+}
diff --git a/python/src/com/jetbrains/python/psi/resolve/VariantsProcessor.java b/python/src/com/jetbrains/python/psi/resolve/VariantsProcessor.java
index 14f0822f9eab..d99bff72fc8c 100644
--- a/python/src/com/jetbrains/python/psi/resolve/VariantsProcessor.java
+++ b/python/src/com/jetbrains/python/psi/resolve/VariantsProcessor.java
@@ -36,7 +36,7 @@ public class VariantsProcessor implements PsiScopeProcessor {
     myContext = context;
   }
 
-  public VariantsProcessor(PsiElement context, final Condition<PsiElement> nodeFilter, final Condition<String> nameFilter) {
+  public VariantsProcessor(PsiElement context, @Nullable final Condition<PsiElement> nodeFilter, @Nullable final Condition<String> nameFilter) {
     myContext = context;
     myNodeFilter = nodeFilter;
     myNameFilter = nameFilter;
diff --git a/python/testData/refactoring/rename/updateAll.py b/python/testData/refactoring/rename/updateAll.py
new file mode 100644
index 000000000000..b22ade997a6c
--- /dev/null
+++ b/python/testData/refactoring/rename/updateAll.py
@@ -0,0 +1,3 @@
+__all__ = ['foo']
+
+def f<caret>oo(): pass
diff --git a/python/testData/refactoring/rename/updateAll_after.py b/python/testData/refactoring/rename/updateAll_after.py
new file mode 100644
index 000000000000..a908dfc746d8
--- /dev/null
+++ b/python/testData/refactoring/rename/updateAll_after.py
@@ -0,0 +1,3 @@
+__all__ = ['bar']
+
+def bar(): pass
diff --git a/python/testSrc/com/jetbrains/python/refactoring/PyRenameTest.java b/python/testSrc/com/jetbrains/python/refactoring/PyRenameTest.java
index c1b0e2b2c656..c26cbb5fd134 100644
--- a/python/testSrc/com/jetbrains/python/refactoring/PyRenameTest.java
+++ b/python/testSrc/com/jetbrains/python/refactoring/PyRenameTest.java
@@ -49,6 +49,10 @@ public class PyRenameTest extends PyLightFixtureTestCase {
     doTest("bar");
   }
 
+  public void testUpdateAll() {  // PY-986
+    doTest("bar");
+  }
+
   private void doTest(final String newName) {
     myFixture.configureByFile("refactoring/rename/" + getTestName(true) + ".py");
     myFixture.renameElementAtCaret(newName);