How to rename issue type in jira?

STEP - 1, 2:

STEP - 3:

STEP - 4:

STEP - 5:

• Select > Issues.
• Click Issue types.
• Find the relevant issue type and click Edit.
• Edit the issue type name, description, or avatar, and click Update.

Need your inputs on how to Rename the Issue Types in JIRA. We are currently have 2 different projects. Does this affects OLD tickets which were created already with old issue type names? what is the impact with this rename.

Current  Issue Type --> NEW Issue Type

Task  --> Task

Bug  --> Bug

New Feature --> Data Fix

Improvement --> Enhancement

Epic --> New Dev