diff --git a/docs/en_US/release_notes_4_9.rst b/docs/en_US/release_notes_4_9.rst
index b1c394cfa..ab1497ced 100644
--- a/docs/en_US/release_notes_4_9.rst
+++ b/docs/en_US/release_notes_4_9.rst
@@ -13,6 +13,7 @@ New features
 Bug fixes
 *********
 
+| `Bug #4171 <https://redmine.postgresql.org/issues/4171>`_ - Fix issue where reverse engineered SQL was failing for foreign tables, if it had "=" in the options.
 | `Bug #4253 <https://redmine.postgresql.org/issues/4253>`_ - Fix issue where new column should be created with Default value.
 | `Bug #4255 <https://redmine.postgresql.org/issues/4255>`_ - Prevent the geometry viewer grabbing key presses when not in focus under Firefox, IE and Edge.
 | `Bug #4320 <https://redmine.postgresql.org/issues/4320>`_ - Fix issue where SSH tunnel connection using password is failing, it's regression of Master Password.
\ No newline at end of file
diff --git a/web/pgadmin/browser/server_groups/servers/databases/schemas/foreign_tables/__init__.py b/web/pgadmin/browser/server_groups/servers/databases/schemas/foreign_tables/__init__.py
index d85b5f3e1..41f8cfd6a 100644
--- a/web/pgadmin/browser/server_groups/servers/databases/schemas/foreign_tables/__init__.py
+++ b/web/pgadmin/browser/server_groups/servers/databases/schemas/foreign_tables/__init__.py
@@ -1192,7 +1192,9 @@ class ForeignTableView(PGChildNodeView, DataTypeReader):
 
         if db_variables is not None:
             for row in db_variables:
-                var_name, var_value = row.split("=")
+                # The value may contain equals in string, split on
+                # first equals only
+                var_name, var_value = row.split("=", 1)
 
                 var_dict = {'option': var_name, 'value': var_value}