diff --git a/protocol/synthetix/test/integration/modules/core/USDTokenModule.test.ts b/protocol/synthetix/test/integration/modules/core/USDTokenModule.test.ts
index b97383489a..29eb32e118 100644
--- a/protocol/synthetix/test/integration/modules/core/USDTokenModule.test.ts
+++ b/protocol/synthetix/test/integration/modules/core/USDTokenModule.test.ts
@@ -1,6 +1,6 @@
-import assert from 'assert/strict';
 import assertBn from '@synthetixio/core-utils/src/utils/assertions/assert-bignumber';
 import assertRevert from '@synthetixio/core-utils/utils/assertions/assert-revert';
+import assert from 'assert/strict';
 import { ethers } from 'ethers';
 import { bn, bootstrapWithStakedPool } from '../../bootstrap';
 
diff --git a/utils/core-modules/contracts/modules/AssociatedSystemsModule.sol b/utils/core-modules/contracts/modules/AssociatedSystemsModule.sol
index 0106e765e9..162525f576 100644
--- a/utils/core-modules/contracts/modules/AssociatedSystemsModule.sol
+++ b/utils/core-modules/contracts/modules/AssociatedSystemsModule.sol
@@ -126,7 +126,10 @@ contract AssociatedSystemsModule is IAssociatedSystemsModule {
         AssociatedSystem.Data storage store = AssociatedSystem.load(id);
 
         if (store.proxy != address(0)) {
-            _upgradeToken(id, impl);
+            if (store.impl != impl) {
+                _upgradeToken(id, impl);
+            }
+            ITokenModule(store.proxy).initialize(name, symbol, decimals);
         } else {
             // create a new proxy and own it
             address proxy = address(new UUPSProxyWithOwner(impl, address(this)));
diff --git a/utils/core-modules/test/contracts/modules/AssociatedSystemsModule.test.ts b/utils/core-modules/test/contracts/modules/AssociatedSystemsModule.test.ts
index a9a602250d..3b11491527 100644
--- a/utils/core-modules/test/contracts/modules/AssociatedSystemsModule.test.ts
+++ b/utils/core-modules/test/contracts/modules/AssociatedSystemsModule.test.ts
@@ -156,6 +156,23 @@ describe('AssociatedSystemsModule', function () {
         assert.equal(await TokenModule.isInitialized(), false);
       });
 
+      it('upgrade token with new name and symbol', async () => {
+        await AssociatedSystemsModule.initOrUpgradeToken(
+          registeredName,
+          'A Token 2',
+          'TOK2',
+          18,
+          TokenModule.address
+        );
+      });
+
+      it('the token has been successfully reinitlized', async function () {
+        assert.equal(await TokenModuleAssociated.isInitialized(), true);
+        assert.equal(await TokenModuleAssociated.name(), 'A Token 2');
+        assert.equal(await TokenModuleAssociated.symbol(), 'TOK2');
+        assert.equal(await TokenModuleAssociated.decimals(), 18);
+      });
+
       describe('when attempting to register a different kind', function () {
         before('prepare modules', async function () {
           await AssociatedSystemsModule.initOrUpgradeNft(