How to format JSON date in Oracle JET

Let's say that you have a JSON date in the following format
"createdDate" : "2016-03-01T13:00:00-08:00"

and you need to show on your web page created with Oracle JET.
To format the above date to a human readable format use the following javascript function:

self.getFormattedDate = function (requestedDate) {
                 
                    var dateOptions = {formatStyle: 'date', dateFormat: 'long'};  
                    var dateConverter = oj.Validation.converterFactory("datetime").createConverter(dateOptions);
                    var convertedDate = oj.IntlConverterUtils.dateToLocalIso(new Date(requestedDate));

                    return dateConverter.format(convertedDate);
                };

On UI side call it as follows.

data-bind="text: getFormattedDate(createdDate)"