Water-dilutable coating composition of polyhydroxyl condensation or addition resin, amino resin and blocked acid catalyst

An oven-drying, water dilutable coating material comprising (A) at least one polyhydroxyl functional copolymer prepared by condensation reaction of an acrylate copolymer (A1) prepared by copolymerization of 20 parts of methacrylic acid, 33 parts of butyl acrylate, 35 parts of styrene and 12 parts of ethylhexyl acrylate, having an acid number of 150 mg of KOH/gram, and an acrylate copolymer (A2) prepared by copolymerization of 18 parts of ethylacrylate, 32 parts of methylmethacrylae, 30 parts of hydroxyethyl methacrylate, and 20 parts of ethylhexyl acrylate, having a hydroxyl number of about 130 mg of KOH/gram, (B) an amino resin at least partially etherified with a monoalcohol, (C) a basic neutralizing agent, (D) water, and (E) a cross-linking catalyst which is the water-insoluble non-ionically blocked reaction product of one or more strong organic or inorganic acids, and at least one compound selected from the group consisting of a monoepoxide, a diepoxide, and a lactone, wherein the neutralizing agent (C) present in the coating material has already substantially escaped from the film at temperatures at which the ester bonds of said reaction product (E) are cleaved.