This is exactly what happened to me a few years back. I was so eager for that review since we had all our KPIs recorded and I knew I had a perfect record, and all I heard was something along the lines "I have nothing bad to say". In that review, my manager said my results would warrant at least an A, and a promotion would probably be on the way. Probably.
A few weeks later I received a letter with my C rating, and I left the company a few months later.
I once had an interesting review: "Ordinarily if someone had given me this list of accomplishments I would give them I very good review. But I just don't like you". Sometimes reviews serve you well in ways you don't expect ;-) Especially when you are at the start of your career, you don't always twig that the place you are working in is completely dysfunctional.
A few weeks later I received a letter with my C rating, and I left the company a few months later.