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Considering it would take a remarkably bad performance to get 16-0'd, it would be safe to presume your ranking would be negatively affected.
It should be noted that your team & enemies' ranks are considered when it makes these rank changes. Getting 16-0'd against GE's that you performed well against is likely beneficial. Getting 16-0'd against Silvers that you didn't perform well against is likely very bad.
The game uses the glicko 2 system i believe
https://www.reddit.com/r/GlobalOffensive/comments/2g3r4c/the_ultimate_guide_to_csgo_ranking/ckfhfir/
Dude i won a dozen games and a tie, lost 2 games only. Got another win and lost 3, won a game then ranked up to mg again. I was like wtf
I really hope i lost less. That would give me confidence on playing my next game.