Enterprise Reporter Server Needs a Proper Encryption Key Configured Error After Upgrade To Version 3.5. (4369933)

Enterprise Reporter Server Needs a Proper Encryption Key Configured Error After Upgrade To Version 3.5.

After upgrading from version 3.2.2 to 3.5 you will get the following error when opening configuration manager:

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The issue seems to happen when there is no record in Windows Credentials (Control Panel -> User Accounts -> Credential Manager) for EnterpriseReporter_IvKey which is typically created in new installations.

Reset passwords (for all credentials) by doing the following:

1. Close Configuration Manager.
2. Stop ER server service.
3. Login to the SQL Server that hosts ER db using SQL Server Management Studio (SSMS) and run the following SQL command  against ER database to reset passwords:

update tblCredentials set EncryptedPassword = null;

4. Start ER server service.
5. Start Configuration Manager.
6. Go to Configuration | Credential Manager and update account passwords.