Modern management of Public Entities is turning increasily to Asset Liability Management. This management can be effectively realized by a set of operations that can be defined as "Debt Restructuring". Financial innovative instruments are playing an increasing role with respect to current debt or will be activated in the near future. Derivatives – such as swaps – and structured finance transactions – such as securitization and project finance –are of considerable importance. The paper analyses the economic effects produced in their accounts and provides useful insights for future administrative regulations regarding acceptable operation for PE.