After completing my placements, the rank up animation flashed up and the text said Diamond 1 but the icon showed Platinum 1.
I checked my rank later and It was truthfully Platinum 1, so there seems to be a problem with the text during the rank up animation.
Hi OP, this is a known issue right now, 343 are looking into getting it resolved 
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> Hi OP, this is a known issue right now, 343 are looking into getting it resolved
Sweet, thanks for the reply.