[campertime]

Have it checked out... it all depends on what your talking about. We had what appeared to be bulges around the rear window and around the water heater access door. The outer skin felt loose or just like delamination. We also had some bubbles/wrinkles on the top corner of the rear panel. Took the trailer in for some small warranty issues and to fix our helium fridge and showed the service advisor the back panel. He said "WHOA! that shouldn't look like that."

They investigated the bubbles and deemed the panel defective. They had the keystone rep come look at it and they said the panel will have to be replaced. We did not want to lose our camping season so they checked the rear panel for leaks, documented everything, and sent us on our way. We are bringing the trailer back to have the panel replaced sometime after labor day.

Here's a picture of one of the wavy areas