Neither SGC nor PSA list Authentic on their list of "grades" however I think most collectors consider a card in a holder as graded even if the outcome is Authentic.
Not all card assessed as Authentic are altered. Cards which are larger or smaller than the factory specs, for instance, will get encapsulated with an A, if the submitter wants. And not all cards assessed with an A are NM or better. I see more that are chewed up.
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