The formula used to calculate how rankings change is given on this page - math explanation. Point of Interest - this system was adapted by a popular ranking system used to rate chess players. It is a proven and successful method for comparing two competing entities and predicting results between them.
In this example, your team would gain 12 ranking points, and would have a new rating of 1712. Your opponent would lose 12 ranking points, and would have a new ranking of 1588.