Yes. Your body will think it is starving (and it likely is) and therefore will hold on to fat for an energy source. Fat is a MUCH longer lasting energy source than muscle. Muscle requires a lot more daily metabolic "upkeep" - it burns many calories very quickly to keep it going. SO if you are not feeding your body, your body will "eat" the muscle to get the necessary fuel to maintain survival. SO now you are holding less muscle.
The less muscle means your overall metabolism is slower, since muscle is more metabolically active. And not only is your metabolism lower because of less muscle, you still have the same amount of fat. So your metabolism is shot, you are soft, AND fat takes up more space than muscle. So you are likely now bigger, softer, and flabbier.
Yum.