How will changing category's URL component affect SEO rankings?

Working on a well-established site that features a top-level tab called "Recreation," which has a URL component of "recreation." The higher-ups want to change "Recreation" to "Adventure," with the URL component "adventure." What's the best way to accomplish this?

I had originally thought a redirect might be the way to go, but the more I think about it, I don't think NetSuite has a concept of wildcards in their redirects (so that an old link to http://www.mysite.com/recreation/product would redirect to http://www.mysite.com/adventure/product).

But, then I thought that I have control over the URL component for that category anyway, so how does NetSuite handle the changing of a category's URL component? Does it redirect at all or does it just change it without consideration of old links/SEO?