I have an Ionic 2 app, which builds and is testable in Xcode 8.2.1 Simulator environment, e.g. iPhone7 (Build Successful).
Xcode 8.2.1
iPhone7
Build Successful
For me Only this worked.I tried changing the Provisioning Profile(Deprecated) Value to Automatic.
Provisioning Profile(Deprecated)
Automatic
This worked for me and I hope it would be helpful for someone.