diff --git a/packages/plpgsql-deparser/__tests__/hydrate.test.ts b/packages/plpgsql-deparser/__tests__/hydrate.test.ts
index 8b8cbea7..5696b2cf 100644
--- a/packages/plpgsql-deparser/__tests__/hydrate.test.ts
+++ b/packages/plpgsql-deparser/__tests__/hydrate.test.ts
@@ -24,7 +24,7 @@ $$`;
       expect(result.stats.parsedExpressions).toBeGreaterThan(0);
     });
 
-    it('should hydrate assignment expressions', () => {
+    it('should hydrate assignment expressions with :=', () => {
       const sql = `CREATE FUNCTION test_func() RETURNS integer
 LANGUAGE plpgsql
 AS $$
@@ -50,6 +50,36 @@ $$`;
       }
     });
 
+    it('should hydrate assignment expressions with = (not just :=)', () => {
+      // PL/pgSQL allows both := and = for assignments
+      // This test ensures = assignments are properly hydrated with valueExpr
+      const sql = `CREATE FUNCTION test_func() RETURNS void
+LANGUAGE plpgsql
+AS $$
+DECLARE
+    x text;
+BEGIN
+    x = "constructive-simple-secrets".get('a', 'b');
+END;
+$$`;
+
+      const parsed = parsePlPgSQLSync(sql) as unknown as PLpgSQLParseResult;
+      const result = hydratePlpgsqlAst(parsed);
+
+      expect(result.errors).toHaveLength(0);
+      expect(result.stats.assignmentExpressions).toBeGreaterThan(0);
+      
+      const assignExpr = findExprByKind(result.ast, 'assign');
+      expect(assignExpr).toBeDefined();
+      if (assignExpr && assignExpr.kind === 'assign') {
+        expect(assignExpr.target).toBe('x');
+        expect(assignExpr.value).toContain('constructive-simple-secrets');
+        // Critical: valueExpr must be populated for AST-based transformations
+        expect(assignExpr.valueExpr).toBeDefined();
+        expect(assignExpr.valueExpr).not.toBeNull();
+      }
+    });
+
     it('should hydrate IF condition expressions', () => {
       const sql = `CREATE FUNCTION test_func(p_val integer) RETURNS text
 LANGUAGE plpgsql
diff --git a/packages/plpgsql-deparser/src/hydrate.ts b/packages/plpgsql-deparser/src/hydrate.ts
index e1f66e50..29ddd7df 100644
--- a/packages/plpgsql-deparser/src/hydrate.ts
+++ b/packages/plpgsql-deparser/src/hydrate.ts
@@ -316,6 +316,7 @@ function splitAssignment(query: string): { target: string; value: string } | nul
   try {
     const tokens = scanSync(query);
     let assignIndex = -1;
+    let assignTokenText = '';
     let parenDepth = 0;
     let bracketDepth = 0;
 
@@ -327,8 +328,29 @@ function splitAssignment(query: string): { target: string; value: string } | nul
       else if (token.text === '[') bracketDepth++;
       else if (token.text === ']') bracketDepth--;
 
+      // Check for := first (preferred PL/pgSQL assignment operator)
       if (token.text === ':=' && parenDepth === 0 && bracketDepth === 0) {
         assignIndex = i;
+        assignTokenText = ':=';
+        break;
+      }
+      
+      // Also check for = (valid PL/pgSQL assignment operator)
+      // But avoid => (named parameter syntax) by checking the previous token
+      if (token.text === '=' && parenDepth === 0 && bracketDepth === 0) {
+        // Make sure this isn't part of => (named parameter)
+        // or comparison operators like >=, <=, <>, !=
+        const prevToken = i > 0 ? tokens.tokens[i - 1] : null;
+        const prevText = prevToken?.text || '';
+        
+        // Skip if previous token suggests this is not an assignment
+        if (prevText === '>' || prevText === '<' || prevText === '!' || prevText === ':') {
+          continue;
+        }
+        
+        // This looks like an assignment with =
+        assignIndex = i;
+        assignTokenText = '=';
         break;
       }
     }
@@ -343,13 +365,33 @@ function splitAssignment(query: string): { target: string; value: string } | nul
 
     return { target, value };
   } catch (err) {
+    // Fallback: try to find := first, then =
     const colonIndex = query.indexOf(':=');
-    if (colonIndex === -1) {
-      return null;
+    if (colonIndex !== -1) {
+      const target = query.substring(0, colonIndex).trim();
+      const value = query.substring(colonIndex + 2).trim();
+      return { target, value };
     }
-    const target = query.substring(0, colonIndex).trim();
-    const value = query.substring(colonIndex + 2).trim();
-    return { target, value };
+    
+    // Try to find = (but be careful about >=, <=, <>, !=, =>)
+    // Find the first = that's not part of a comparison operator
+    for (let i = 0; i < query.length; i++) {
+      if (query[i] === '=') {
+        const prev = i > 0 ? query[i - 1] : '';
+        const next = i < query.length - 1 ? query[i + 1] : '';
+        
+        // Skip comparison operators
+        if (prev === '>' || prev === '<' || prev === '!' || prev === ':' || next === '>') {
+          continue;
+        }
+        
+        const target = query.substring(0, i).trim();
+        const value = query.substring(i + 1).trim();
+        return { target, value };
+      }
+    }
+    
+    return null;
   }
 }