OCIO Color Space Node Question

What happens to the bit depth when I use the OCIO color space node to take a linear OpenEXR to sRGB to match the other plates I'm using? Does it change the bit depth to 8-bit? If so is there another way to adjust for the gamma without degrading the bit depth?
Very, very new to the whole compositing world. Using Modo here.
Very, very new to the whole compositing world. Using Modo here.