Not in Florida, it does not, humidity and heat make plastic coverings wrinkle but I must say that the Monokote covered airplanes that I had fared much better, but the Ultrakote used on this airplane is not even stable in my garage, which is air conditioned, I keep the temperature inside my house at 76 and even lower at times.
The only covering like the 'Kotes" and aside from the polyesters, that is best as far as being extremely stable at all temperatures is Ozcover, down side is that it must be painted and is not as puncture resistant as the 'Kotes, the latest Kadet I built has this covering, it is over two years old, has seen all kinds of temperatures, was kept in a warehouse for 6 months, can sit all day in the Florida sun and will not sag, much less wrinkle. It is a sure winner in this particular trait