Function of REPLACE VIEW Requests
The syntax for REPLACE VIEW is identical to that of the CREATE VIEW statement except that the keyword REPLACE is substituted for the keyword CREATE.
REPLACE VIEW executes like a DROP VIEW request followed by a CREATE VIEW request except for the handling of the privileges granted to the original view. Teradata Database retains all of the privileges that were granted directly on the original view for the replacement view.
All privileges that were granted directly on the original view are retained for the replaced view definition.
If the specified view does not exist, a REPLACE VIEW request creates it. In this case, the REPLACE statement has the same effect as a CREATE VIEW request.
If an error occurs during the replacement of the view, the existing view remains in place as it was prior to the execution of the REPLACE VIEW request. Teradata Database does not drop the view. This is analogous to a ROLLBACK on the operation.