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Here, \\(L\\) denotes an elliptic second order differential operator of the form \\(Lh = D\\partial _{xx}h - Ch\\), \\(D>0\\), \\(C\\geq 0\\), \\(W\\) is a Brownian sheet, the functions \\(b(t,x,\\cdot)\\), \\(\\sigma (t,x,\\cdot)\\) are Lipschitz and of a linear growth uniformly in \\((t,x)\\), and \\(\\sigma \\) is continuous on \\([0,T]\\times [0,1]\\times \\mathbb R\\) (satisfying, however, no nondegeneracy assumption in general). Let us denote by \\(C^\\alpha \\) the space of all real functions \\(F\\) on \\([0,T]\\times [0,1]\\) such that \\(\\sup [F]_\\alpha <\\infty \\), where  \\[ [F]_\\alpha (s,t,x,y) = (|s-t|^{2}+|x-y|^{4})^{-\\alpha /2}|F(t,x)-F(s,y)|, \\]  and by \\(C^{\\alpha ,0}\\) the subspace consisting of functions satisfying \\([F]_\\alpha \\to 0\\) as \\(|s-t|+|x-y|\\to 0\\). It is shown that the solutions \\((X^\\varepsilon)_{\\varepsilon >0}\\) obey a large deviations principle in the space \\(C^\\alpha \\) for any \\(\\alpha \\in \\left ]0,\\frac 14\\right [\\) uniformly in the initial condition \\(\\varphi \\), provided the initial data are taken in a compact subset of \\(C^{\\alpha ,0}\\). This result is then applied to study asymptotics as \\(\\varepsilon \\downarrow 0\\) for the exit time of \\(X^\\varepsilon \\) from a bounded subset of \\(C^{\\alpha 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