HDMI video processor for down scaling and colour conversion

I am looking for a compact and affordable HDMI video processor that is capable of 1080p60 -> 720p60 down conversion and RGB -> YUV colour down conversion with configurable HDMI black level input (TV and PC black level selection).

I have been unable to find such a device outside a HT AV processor. I need something portable and affordable. But it seems all the small HDMI video processors are for upconverting.

If anyone has any idea where to find what I am looking for, please let me know.

Only downscalers I’ve seen are those that convert HD signals to 480i signals via composite/S-video. That said, what exactly are you going to use this for? If it’s for a console, then those should be able to output 720p on their own.

I want it for recording Xbox360 recording without needing to upscale the playing monitor.